Inflation shows cooling signs as consumer prices rise at moderate pace – By Courtenay Brown (Axios) / Aug 10, 2023
The Consumer Price Index rose 3.2% in the 12 months through July and the measure that excludes energy and food prices rose 4.7%, the Labor Department said Thursday.
Why it matters: Despite an uptick in overall inflation, underlying details point to further signs of cooling last month as the steep price gains that plagued American consumers look to be moderating.
Between the lines: The 12-month change in overall CPI is up slightly from the 3% registered in June.
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