US price and wage increases slow further in the latest signs of cooling inflation

By CHRISTOPHER RUGABER
AP Economics Writer

WASHINGTON (AP) — Signs that inflation pressures in the United States are steadily easing emerged Friday in reports that consumer prices rose in June at their slowest pace in more than two years and that wage growth cooled last quarter. Together, the figures provided the latest signs that the Federal Reserve’s drive to tame inflation may succeed without triggering a recession, an outcome known as a “soft landing.” A price gauge closely monitored by the Fed rose just 3% in June from a year earlier. That was down from a 3.8% annual increase in May, though still above the Fed’s 2% inflation target.