Where will inflation go next?

Inflation might be easing, but the Fed's job remains tough

A crystal ball.
Many are predicting at least one more interest rate hike in 2023
(Image credit: Illustrated | Getty Images)

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For many Americans enduring higher prices, easing inflation was on the wishlist for 2023 — and as of July, it's looking like that dream just might come true. Inflation dropped to 3% in June, reaching its lowest level since May 2021 and marking the 12th month in a row that inflation has eased, based on the consumer price index released by the Bureau of Labor Statistics, USA Today reported.

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