US inflation slowed again in July, clearing the way for rate cuts

A mild increase in consumer prices in July. According to the Labor Department, consumer prices rose 0.2% from June to July after dropping slightly the previous month for the first time in four years. Meanwhile, year-over-year inflation reached its lowest level in more than three years in July. It’s the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.