This was the smallest rise since February 2021 and is slighly above the Federal Reserve's 2 percent target. It is also far below the peak inflation rate of 9.1 percent in mid-2022. Despite the easing inflation, many Americans remain dissatisfied with consumer prices, which are still higher than pre-2021 levels.

Wholesale prices in the United States were unchanged last month in another sign that inflation is returning to something close to normal after years of pressuring America’s households in the wake of COVID-19.