US Price and Wage Increases Slow Further in the Latest Signs of Cooling Inflation

US Price and Wage Increases Slow Further in the Latest Signs of Cooling Inflation
Shoppers peruse a display of Rainer cherries at a Costco warehouse in Sheridan, Colo., on July 11, 2023. David Zalubowski/AP Photo
The Associated Press
Updated:
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WASHINGTON—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.