Inflation eases in July as gasoline and grocery prices fall

Consumer prices in July were up 3. 4% from a year ago — a smaller annual increase than in May or June. The news makes it less likely the Fed will feel the need to raise interest rates in September.

Source: [NPR News](https://www.npr.org/2026/08/12/nx-s1-5929122/inflation-cpi-economy-gas-grocery)