{"id":41314,"date":"2026-08-12T17:54:46","date_gmt":"2026-08-12T12:54:46","guid":{"rendered":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=41314"},"modified":"2026-08-12T17:54:46","modified_gmt":"2026-08-12T12:54:46","slug":"cpi-report-shows-inflation-eased-in-july-to-3-4-annual-pace","status":"publish","type":"post","link":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/?p=41314","title":{"rendered":"CPI report shows inflation eased in July to 3.4% annual pace"},"content":{"rendered":"<p><script>\r\n  atOptions = {\r\n    'key' : '644b717812d811d6a1c1fc5b6ccd6fa6',\r\n    'format' : 'iframe',\r\n    'height' : 90,\r\n    'width' : 728,\r\n    'params' : {}\r\n  };\r\n<\/script>\r\n<script src=\"https:\/\/www.highperformanceformat.com\/644b717812d811d6a1c1fc5b6ccd6fa6\/invoke.js\"><\/script>\r\n<br \/>\n<\/p>\n<div id=\"\">\n<p>Inflation eased for the second consecutive month, rising at a 3.4% annual pace in July, in line with economists&#8217; expectations and a signal that some price pressures may be easing.\u00a0<\/p>\n<h2>By the numbers<\/h2>\n<p>Economists polled by the financial data firm FactSet predicted July inflation rose at an annual rate of 3.4%.<\/p>\n<p>Oil prices surged in July as tensions escalated in the Strait of Hormuz and Iran-backed Houthi rebels in Yemen targeted shipping in the Red Sea. The escalating conflict pushed Brent crude, the international benchmark, from about $71 a barrel at the start of the month to above $100 by July 23.\u00a0<\/p>\n<p>While oil prices have eased since then, American drivers paid an average of $4.06 for a gallon of gasoline last month, data from the U.S. Energy Information Administration showed. That compares with an average of about $3 a gallon in February, before the Iran war began.\u00a0<\/p>\n<p>Still, average daily gas prices in July were about 10 cents cheaper than in June, Moody&#8217;s Analytics chief economist Mark Zandi told CBS News in an email before the July CPI data release, citing Bureau of Labor Statistics data.<\/p>\n<p>Barring fresh escalations in the Iran war, inflation may have already peaked, and could ease throughout the year, dipping close to the Federal Reserve&#8217;s 2% annual goal by this time next year, Zandi added.\u00a0<\/p>\n<p>July&#8217;s inflation data will be critical to the Federal Reserve&#8217;s September interest rate decision, following a surprisingly weak jobs report last week. The July labor market report showed employers\u00a0<span class=\"link\"><a href=\"https:\/\/www.cbsnews.com\/news\/july-jobs-report-unexpected-job-losses\/\" data-invalid-url-rewritten-http=\"\">cut 23,000 jobs<\/a><\/span> last month, rather than a forecast of 95,000 new hires, suggesting the labor market may be much weaker than previously thought.\u00a0<\/p>\n<p>Because of that, many economists now expect the Fed to hold rates steady at the September meeting to support the labor market. Before the jobs report, there was a higher probability that the Fed would hike rates next month to tame inflation, according to CME FedWatch, which bases its probabilities on 30-day Fed funds futures prices.<\/p>\n<section class=\"content__body--footer\">\n<p class=\"content__meta--editors\">\n      Edited by<\/p>\n<p>                                  <a href=\"https:\/\/www.cbsnews.com\/team\/aimee-picchi\/\" class=\"byline__author__link\" data-invalid-url-rewritten-http=\"\">Aimee  Picchi<\/a>\n                      <\/p>\n<\/section>\n<p>  <!-- data-recirc-source=\"queryly\" --><\/p>\n<aside class=\"component list recirculation component--type-recirculation  \">\n        <\/aside>\n<section class=\"content__body--footer\">\n      <!-- tags --><\/p>\n<section class=\"content__tags\">\n<p class=\"content__tags__label\">In:<\/p>\n<\/section>\n<\/section><\/div>\n<script async=\"async\" data-cfasync=\"false\" src=\"https:\/\/pl30214220.effectivecpmnetwork.com\/9ab3d4df8a7e1a6171e16ddbf732cc19\/invoke.js\"><\/script>\r\n<div id=\"container-9ab3d4df8a7e1a6171e16ddbf732cc19\"><\/div>\r\n\n","protected":false},"excerpt":{"rendered":"<p>Inflation eased for the second consecutive month, rising at a 3.4% annual pace in July, in line with economists&#8217; expectations and a signal that some price pressures may be easing.\u00a0 By the numbers Economists polled by the financial data firm FactSet predicted July inflation rose at an annual rate of 3.4%. Oil prices surged in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":41315,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/assets2.cbsnewsstatic.com\/hub\/i\/r\/2026\/03\/19\/3ca52f17-b1e3-4a21-947b-dee06b221069\/thumbnail\/1200x630\/9ae311e1dbcbe2d2dab0e4fcdae047e8\/gettyimages-2213316979.jpg","fifu_image_alt":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-41314","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-hub"],"brizy_media":[],"_links":{"self":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/41314","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41314"}],"version-history":[{"count":0,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/posts\/41314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=\/wp\/v2\/media\/41315"}],"wp:attachment":[{"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/usnews-14267fa.ingress-comporellon.ewp.live\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}