Inflation cooled for the 12th consecutive month in June, moving to 3% from 4% in May, according to the latest Consumer Price Index data from the Labor Department.
Americans are optimistic about inflation being lower in the coming months; however, their future outlooks — for price hikes as well as their own finances — are a little more clouded.
Federal Reserve officials were divided at their last meeting as to whether or not another rate hike was needed to slow the economy, according to minutes from the central bank’s May policymaking meeting, released Wednesday afternoon.
