US Inflation Eases to 3.4% Amid Cooling Energy Prices
US inflation rates have cooled down to 3.4% in July, according to data from the Bureau of Labor Statistics.
The figure is a decrease from June's annual rate of 3.5% and meets economists' expectations.
The core inflation rate, which excludes volatile food and energy prices, dropped from 2.6% to 2.5%.
Energy costs were the main driver of this drop, with petrol prices decreasing by 2.9% compared to June levels.