US Consumer Inflation Slows to 3.4% in July

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Washington DC: US consumer inflation slowed slightly to 3.4 percent year-on-year in July, according to official government data.

The moderation in consumer price growth occurred despite turbulent oil prices caused by the ongoing war with Iran.

Government statistics indicate that overall price growth cooled modestly across the broader economy throughout the month.

Energy markets remained volatile due to the geopolitical conflict, continuing to exert pressure on global commodity prices.

Despite these turbulent energy conditions, official figures confirm a slight easing in the annual U.S. inflation rate.