The Fed’s preferred inflation gauge, the personal-consumption-expenditures price index, fell to 3% in June from a year earlier

It was the lowest 12-month print since March 2021

3-month annualized rate: 2.5%
6-month annualized rate: 3.3% pic.twitter.com/gOnDaBwKI7

— Nick Timiraos (@NickTimiraos) July 28, 2023