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Consumer prices rose by 8.5% year over year in July as the summer of inflation wears on

August 10, 2022

Via: NBC News

Inflation reached 8.5% in July, compared with a 40-year high of 9.1% in June, providing a measure of relief to consumers as gas prices fall.

Economists surveyed by The Wall Street Journal had projected inflation in July to fall to 8.7%. On a month-to-month basis, the July Consumer Price Index reading was unchanged from June — meaning no price growth was registered. That compares with June’s month-on-month increase of 1.3%.

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