Inflation eases off in July as the summer's breakneck price increases slow down

Inflation slowed from its rapid pace in July, signaling faster price growth might prove temporary as most economists expect.

On a year-over-year basis, the index rose 5.4%, matching June's year-over-year rate. The one-year jump is the largest since July 2008. Used vehicles were one of the clearest examples in past months, but the trend slowed sharply through July. Prices of used cars and trucks rose just 0.2% last month after gaining at least 7.3% in each of the previous three months. The slowdown was a"major factor" dragging on the core measure, BLS said.

Supply chains in UK aren't healing (the mid pandemic Brexit bonus).

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