Inflation in the US has Cooled off Significantly

Inflation in the U.S. has cooled off significantly. Great. Here’s what’s not so great.   The inflation dragon is breathing a lot less fire, but it’s far from dead. The rate of inflation slowed sharply to 3% in June from a 40-year high of 9.1% a year earlier, the consumer price index showed. Wholesale prices have come down even more with the producer price index now essentially flat over the past year. That good news this week on inflation cheered Wall Street investors. Stocks rose on Thursday for the fourth day in a row. ‘It’s much easier to go from 9% to 4% inflation than…