US Annual Inflation Rate Stabilizes in July, Slowing to 3.4 Percent

Falling energy prices helped inflation pressures ease last month, new government data released on August 12 show.

July’s U.S. annual inflation rate slowed to 3.4 percent, from 3.5 percent in the previous month, according to the Bureau of Labor Statistics.

Excluding the volatile energy and food categories, the 12-month core inflation rate also eased to 2.5 percent, from 2.6 percent.

Both readings were in line with economists’ expectations.

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