 may have finally gotten some encouraging news, fueled partly by falling fuel costs. Not here. Consumer prices dropped in June as the Federal Reserve weighs whether to cut interest rates, currently sitting at a 23-year high. Brian Abel breaks down the latest price index. This rate drop in the consumer price index, it is a small yet significant one, a drop of 0.1% from May to June. But it's the first time we've seen a drop since May of 2020.