US inflation slows slightly in July despite elevated fuel prices

US inflation eased slightly to 3.4 per cent in July, potentially giving the Federal Reserve more flexibility on interest rates ahead of the midterm elections.

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

Energy prices declined 1.5 percent in July but remain 14.7 percent higher compared with a year ago.

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. Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, the Labor Department said

Core inflation, which strips out food and energy, climbed 0.2% for the month and 2.5% over the past year

US consumer inflation mild in July, but economy not out of the woods yet  Reuters

The consumer price index rose 0.1 per cent from a month earlier.

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

Calapan City, Philippines — Inflation in the Mimaropa region eased to 5.3 percent in July, down from 5.7 percent in June, according to a special report from the Philippine Statistics Authority (PSA) on Monday. This signals a slight cooling of price pressures in the region, according to government economists.  The decel