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US inflation falls to 8.5 per cent

There are signs US inflation may have passed its peak as the July increase in consumer prices slowed from June's four-decade high. 

Consumer prices were up 8.5 per cent last month from a year earlier – slowing from 9.1 per cent in June.

Price pressures eased across energy sectors, gas prices, airfares, and apparel while grocery costs rose.

There are signs US inflation may have passed its peak as the July increase in consumer prices slowed from June’s four-decade high.

Consumer prices were up 8.5 per cent last month from a year earlier – slowing from 9.1 per cent in June.

Price pressures eased across energy sectors, gas prices, airfares, and apparel while grocery costs rose.

There are signs US inflation may have passed its peak as the July increase in consumer prices slowed from June’s four-decade high. Consumer prices were up 8.5 per cent last month from a year earlier – slowing from 9.1 per cent in June. Price pressures eased across energy sectors, gas prices, airfares, and apparel while grocery costs rose.

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