Lates News

In June, inflation in the United States is expected to slow down, but the ongoing conflict in the Middle East may hinder this result from providing much comfort to households and may not rule out the possibility of the Federal Reserve raising interest rates again this year. The market expects that the slowdown in the Consumer Price Index (CPI) mainly reflects the fall in gasoline prices from multi-year highs. However, the ceasefire agreement between the US and Iran broke last week, causing gasoline prices to rise again. The American Automobile Association (AAA) data shows that the average price of regular gasoline in the United States rose to $3.87 per gallon on Monday. Brian Bethune, an economics professor at Boston College, said, "The level of pain consumers are enduring has only dropped from a 10 to a 9, they are still under immense pressure. We are far from out of the woods yet." Diane Swonk, chief economist at KPMG, stated, "Overall prices continue to accumulate, even though some supermarkets are trying to attract consumers back by reducing prices, the help to overall household spending will not be significant because there are other factors pushing up costs."