US Inflation Slows, But Prices Remain Elevated Ahead of Midterms
US inflation rates have seen a slight decrease in July, with prices rising by only 3.4% compared to last year, down from 3.5% in June.
The decline marks the second straight month of lower inflation after May's spike to 4.2%, a three-year high, driven largely by sharply higher gas prices.
Despite the pause, prices remain elevated and pose challenges for the White House ahead of the midterm elections.