The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.2% in June from the previous month.&nbsp;

Prices climbed 3% on an annual basis, slightly below the 3.1% increase forecast by Refinitiv economists.

Although inflation has cooled from a peak of 9.1%, it still remains above the Federal Reserve's 2% target rate.

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The Labor Department said the consumer price index showed that inflation cooled last month, but that underlying price pressures remained stubbornly high.{ai:summary}<p>Consumer prices rose by 0.2% in June, with an annual increase of 3%, slightly below the forecast. Inflation remains above the Federal Reserve's target rate of 2%. #economy</p>

Inflation rises just 3% in June as price pressures continue to cool

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