Inflation data continues to cool, July CPI in line with estimates

The July Consumer Price Index report showed prices rose 0.2% from June, which was in line with estimates, and 2.9% from a year ago, which was slightly better than the Bloomberg consensus estimate of 3.0%. Stripping out the more volatile food and energy components, prices were up 0.2% from June and 3.2% year-over-year, both matching economist estimates.

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