Inflation slows a bit in July. Has it finally peaked? – Los Angeles Times

After months of steadily climbing to a 40-year high, the pace of inflation slowed notably in July as gas prices fell sharply and Americans got some relief on the cost of clothing, cars and other necessities.

The annual rate of inflation, as measured by the consumer price index, edged down to 8.5% in July from 9.1% in June, according to the Bureau of Labor Statistics in a report issued Wednesday.

Source: Inflation slows a bit in July. Has it finally peaked? – Los Angeles Times

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