{
  "id": 691820,
  "title": "US inflation eases slightly to 3.4% in July, but remains well above the Fed’s target",
  "url": "https://urgent.news/2026/08/12/us-inflation-eases-slightly-to-3-4-in-july-but-remains-well-above-the",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-12T14:12:48.000Z",
  "source": {
    "name": "El Pais English",
    "slug": "el-pais-english",
    "url": "https://english.elpais.com/economy-and-business/2026-08-12/us-inflation-eases-slightly-to-34-in-july-but-remains-well-above-the-feds-target.html"
  },
  "original_language": "en",
  "account": "In July, US inflation eased slightly to 3.4% year-over-year, according to data released by the Bureau of Labor Statistics. While this marks a minor improvement from the previous month, core inflation, which excludes energy and food, remained at 2.5%. Energy prices, pushed up by the Iran war-induced crisis, increased by 14.7% over the past year. Food prices rose by 3%, continuing a streak of six consecutive monthly increases. However, certain signs of moderation are evident: three major grocery store food groups experienced declines, and lettuce prices dropped 16.4% due to a parasite outbreak. The Federal Reserve faces a challenging balancing act, as inflation remains well above their 2% target, while the labor market shows signs of slowing, with 23,000 jobs lost in July. The Fed has indicated their intention to wait until September to decide on interest rates, with Fed Governor Kevin Warsh set to review July's employment and inflation data at the Jackson Hole central bankers' gathering. Despite the slight easing in inflation, economists suggest that expectations for a September rate hike may be tempered but not entirely removed. The rise in prices is primarily attributed to housing costs, which increased by 0.1% last month, accounting for about two-thirds of the all-items price increase. Food and dining out prices also rose slightly.",
  "summary": "Consumer prices rose 0.1% from the previous month",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 11,
    "also_reported_by": [
      {
        "outlet": "Business Insider",
        "title": "Inflation is expected to cool again in today's July CPI report",
        "url": "https://urgent.news/2026/08/12/inflation-is-expected-to-cool-again-in-todays-july-cpi-report",
        "published": "2026-08-12T09:00:01.000Z"
      },
      {
        "outlet": "FXStreet",
        "title": "Indian inflation accelerates to 4.45% in July, slightly below expectations",
        "url": "https://urgent.news/2026/08/12/indian-inflation-accelerates-to-4-45-in-july-slightly-below",
        "published": "2026-08-12T10:41:34.000Z"
      },
      {
        "outlet": "Quartz",
        "title": "Inflation rose 0.1% in July, cooling slightly to 3.4% annually",
        "url": "https://urgent.news/2026/08/12/inflation-rose-0-1-in-july-cooling-slightly-to-3-4-annually",
        "published": "2026-08-12T12:50:29.000Z"
      },
      {
        "outlet": "Financial Times",
        "title": "US inflation falls to 3.4% in July",
        "url": "https://urgent.news/2026/08/12/us-inflation-falls-to-3-4-in-july",
        "published": "2026-08-12T13:32:09.000Z"
      },
      {
        "outlet": "RTE News",
        "title": "Annual inflation holds at 3.4% in July - CSO",
        "url": "https://urgent.news/2026/08/13/annual-inflation-holds-at-3-4-in-july-cso",
        "published": "2026-08-13T10:37:49.000Z"
      },
      {
        "outlet": "NPR",
        "title": "Inflation eased slightly in July. And, ICE plans to give officers electric shock gloves",
        "url": "https://urgent.news/2026/08/13/inflation-eased-slightly-in-july-and-ice-plans-to-give-officers",
        "published": "2026-08-13T11:31:18.000Z"
      },
      {
        "outlet": "The Economic Times - Economy",
        "title": "India's wholesale inflation eases to 9.78% in July from 9.87% in June",
        "url": "https://urgent.news/2026/08/14/indias-wholesale-inflation-eases-to-9-78-in-july-from-9-87-in-june",
        "published": "2026-08-14T06:40:27.000Z"
      },
      {
        "outlet": "Winnipeg Free Press",
        "title": "Gas price rebound expected to send inflation higher in July",
        "url": "https://urgent.news/2026/08/14/gas-price-rebound-expected-to-send-inflation-higher-in-july",
        "published": "2026-08-14T16:15:17.000Z"
      },
      {
        "outlet": "CityNews",
        "title": "Gas price rebound expected to send Canada’s inflation higher in July",
        "url": "https://urgent.news/2026/08/14/gas-price-rebound-expected-to-send-canadas-inflation-higher-in-july",
        "published": "2026-08-14T16:25:01.000Z"
      },
      {
        "outlet": "Financial Post",
        "title": "Higher gas prices expected to nudge Canada’s inflation rate back near 3% in July, economists say",
        "url": "https://urgent.news/2026/08/14/higher-gas-prices-expected-to-nudge-canadas-inflation-rate-back-near",
        "published": "2026-08-14T20:03:15.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}