Good afternoon. Inflation is falling – down from 7% in March to 6% in the June quarter – but rising food prices and rents continue to remain a cost-of-living headache.
Food prices rose 1.6% for the quarter, matching the pace in the March quarter, while rents were up 2.5% for the quarter and 6.7% for the year. It’s the strongest quarterly increase in rents since 1988.