Inflation Slowed Again in July but Prices Are Still Climbing

Consumer prices rose 0.1% in July after falling 0.4% in June, the BLS reported August 12. Over the past year, inflation eased to 3.4% from 3.5%. Housing costs kept rising. At 3.4%, inflation remains well above the Fed's 2% goal — enough to keep rates where they are, not cut them. Next reading comes September 11.