After reaching a 40-year high of 9.1% last year, U.S. inflation has decreased by two-thirds.
However, lowering it to the desired 2% level is expected to be challenging.
Inflation is measured by using government-released data reports to compare current prices of goods and services to their recent history.
In June, inflation continued to decline for the 12th consecutive month.
Housing costs, while still the biggest contributor to inflation, have shown some slowing growth.
Rent increased by 0.5% but at a slower pace compared to previous months
Consumer prices have risen 3% from the previous year, down from 4% in May.
The overall inflation landscape remains complex. Here's to hoping for a stable inflation rate in the future!