US inflation at slowest rate in more than two years

The rate of price growth in the US dropped to its slowest pace in more than two years, helped by cheaper used cars. Inflation has fallen sharply from a peak of more than 9% last year and June's reading marks the slowest pace since March 2021. The figures suggest a succession of interest rate rises have punctured soaring prices. However, analysts still expect the US Federal Reserve to raise rates again this month.