Inflation cooled last month as gas prices fell, though costs remain elevated

The modest decline could ease pressure on the Federal Reserve to raise their key interest rate to combat rising costs. Yet prices are still rising more quickly than average wages, underscoring the struggle many Americans have had with more expensive groceries, gas, and healthcare.

Though energy prices fell last month after their spring surge, other factors pushed up costs as the Fed considers raising interest rates.

U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy

Inflation slows but prices remain elevated as Iran war and spending on AI push up prices  AP News

U.S. inflation slowed last month and a measure of underlying price pressures also cooled, as higher oil and gas prices had a limited impact on broader costs in the economy.

U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy.

Inflation Cooled Last Month As Gas Prices Fell, Though Costs Remain Elevated  HuffPost

The CPI report was in line with economists' expectations, marking the second consecutive month with cooler price pressures.

Energy is cheaper than at its peak in late April, but gas is still nearly $1 a gallon more expensive than before the Iran war US consumer prices cooled slightly in July as the annualized inflation rate dipped down to 3.4%, though prices still remain higher than levels seen before the war with Iran. Though inflation dec