US Inflation Rate at 1.7%, Consumer Prices Flat in June 2012

Lower gasoline prices offset rising food, medical care and other costs, flattening consumer prices in June and keeping US Inflation at the same 12-month rate as reported by the government in May.

Consumer prices were unchanged in June after dropping 0.3 percent in the previous month, the US Labor Department said Tuesday morning. Americans got a break at the pump as gasoline prices were down for a third straight monthly decline. Continue reading