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We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. August 12, 2026 / 2:08 PM EDT / CBS News Inflation looks to be moving back in the right direction. That was one of the major takeaways on Wednesday after the Bureau of Labor Statistics released its latest reading, this time for July. At 3.4% now, the rate is both lower than it was in June and even lower than it was in May when it sat over 4%.
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Core inflation, which accounts for energy and food prices, also declined slightly in July from 2.6% to 2.5%.
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