US inflation at slowest rate in more than two years

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25 minutes ago

The rate of price growth in the US dropped to its slowest pace in more than two years, helped by cheaper used cars.

Inflation rose by 3% in the year to June, according to new data.

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 US central bank has been raising interest rates to stabilise rising prices.