The consumer price index (CPI) dipped to a 3-percent annual increase in June, down from 3.3 in May with the first month of price declines since the pandemic, the Labor Department reported Thursday.

The consumer price index (CPI) dipped to a 3-percent annual increase in June, down from 3.3 in May, the Labor Department reported Thursday, as inflation continues to fall.

The CPI also dropped 0.1 percent in June, marking the second straight month of plateauing or declining prices. Economists expected an annual inflation rate of 3.1 percent, according to consensus projections.

The June decline also marks the third month in a row of declining annual increases in the CPI, a trend mirrored in the personal consumption expenditures (PCE) price index, another key measure of inflation.... Read More: The Hill