U.S. inflation slips from 40-year peak but remains high 8.5%

FALLING GAS prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June. Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1% year-over-year jump in June. GENE J. PUSKAR / ASSOCIATED PRESS FILE PHOTO
WASHINGTON (AP) – Falling gas prices gave Americans a slight break from the pain of high inflation last month, though the surge in overall prices slowed only modestly from the four-decade high it reached in June. Consumer prices jumped 8.5% in July compared with a year earlier, the government said Wednesday, down from a 9.1%…

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