Highest Decline In The Rate Of Inflation Since 2021 Reduce Prices for Gas, Groceries

This year’s decline in the rate of inflation is the highest it has been since 2021. As a result, prices for gas, groceries, and many others have been reduced by a huge amount.

In comparison to the month of May, this month the consumer price index for rent, groceries, and gasoline increased only by 0.2%. In addition, the prices increased only by 3% on an annual basis which marks the highest decline in the rate of inflation since 2021.

An article in Central Oregon Daily states that the region of New England saw the highest decline in the rate of inflation. In this region where the decline in the rate of inflation was the highest, the states of Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont are included. In the states,  the prices increased only by 1.8% which is less than the 2% target of the Federal Reserve.

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Other States With High Decline in the Rate of Inflation

According to an article in Fox Business, the decline in the rate of inflation in other states are also below the national average which has increased by only 2.2%. In this region where the decline in the rate of inflation was also high, the states of Arkansas, Louisiana, Oklahoma, and Texas.

In addition, the decline in the rate of inflation in the states of Iowa, Kansas, Minnesota, Missouri, Nebraska, and North and South Dakota is also high as prices increased only by 2.3%.

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