Inflation Eased to 3.4% in July as Monthly CPI Rose 0.1%

Annual CPI inflation fell to 3.4% in July from 3.5% in June, the BLS reported August 12, with monthly prices up just 0.1% — below forecasts. CPI, the Consumer Price Index, tracks what households pay for goods and services. After weak jobs data, cooler inflation makes another Fed rate hike harder to justify, though oil-driven risks persist.