Several signals suggest the stronger inflation seen through spring will cool off in June.
As the US economy reopened and spending boomed through the spring, economists set their sights on popular gauges of inflation. The Biden administration and theeased fears around a surge in price growth, saying the pick-up would likely fade as bottlenecks get addressed and Americans settle into a new normal. Other experts and GOP lawmakers raised concerns that accelerating inflation would persist, kicking off a new economic crisis., beating the median estimate for a 0.4% jump.
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