Inflation fell to an annual rate of 3 percent in June, according to data released Wednesday by the Labor Department, giving consumers more breathing room after nearly two years of high prices. The latest rate is still shy of the Federal Reserve’s 2-percent target. A series of aggressive interest rate hikes by the Fed has helped cool price increases across the U.S. economy over the past 12 months. “The Central Bank has been on a campaign to rein in inflation for nearly a year and a half, pausing a beat last month to let things simmer. They’ve signaled two more rate increases before the end of the year, but this clear sign of slowed growth could be fodder for ending hikes sooner,” Nerd
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