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(CNN) — US consumer prices did something in June that they haven’t done since the early part of the pandemic: They fell.
Consumer prices dropped 0.1% on a monthly basis, helping to bring the annual rate of inflation to 3% from 3.3% in May, according to the Bureau of Labor Statistics’ latest Consumer Price Index report.
Economists were expecting a 0.1% monthly increase and an annual gain of 3.1%, according to FactSet consensus estimates.
This story is developing and will be updated.
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