US inflation at slowest rate in more than two years

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The rate of price growth in the US dropped to its slowest pace in more than two years, helped by cheaper used cars. Inflation has fallen sharply from a peak of more than 9% last year and June's reading marks the slowest pace since March 2021. The figures suggest a succession of interest rate rises have punctured soaring prices. However, analysts still expect the US Federal Reserve to raise rates again this month. (Picture:SOUTH BURLINGTON, VERMONT - JULY 1: Customers checkout groceries at a Hannaford supermarket July 1, 2023 in South Burlington, Vermont. Picture Credit: Getty Images).