US Inflation Rate Eases to 3. 5% as Gasoline Prices Fall The latest Bureau of Labor Statistics figures show that inflation in the US has eased to 3. 5% for June, down from 4. 2% in May.
The decline is largely attributed to a significant drop in gasoline prices, which fell by 9. 7%.
However, this reprieve may be short lived as global oil prices surged after the recent conflict in the Middle East sent Brent crude soaring to $87 per barrel.