For the second consecutive month, the decline in the rate of inflation has been huge in June. In this article, read and find out in which states the inflation decreased by a huge amount!In comparison to the previous month, in June, the consumer price index for groceries, rent, and gasoline increased by 0.2%. On the other hand, the prices increased 3% on a yearly basis which marked the biggest decline in the rate of inflation in more than two years.
An article in Fox Business states that the decline in the rate of inflation was the biggest in the region of New England. This region which had the biggest decline in the rate of inflation includes the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont. In these states, the prices increased by only 1.8% in June which is below the 2% target of the Federal Reserve.
Other States With Huge Decline in the Rate of Inflation
According to an article in Yahoo News, other U.S. states that are also seeing a huge decline in the rate of inflation that is below the national average had prices increased by only 2.2%. These states include Arkansas, Louisiana, Oklahoma, and Texas.
In addition, there is also a huge decline in the rate of inflation in the region where the states of Iowa, Kansas, Minnesota, Missouri, Nebraska, and North and South Dakota are. Reportedly, the prices in these states increased by only 2.3%.