(CNN) — The Fed’s favored inflation indicator showed that prices took a breather in July as energy prices continued to fall from record highs.
The Personal Consumption Expenditures price index rose by 6.3% for the year ended in July, down from the 40-year high of 6.8% reported in June.
The cooldown was largely expected: Energy prices dropped considerably last month. The July Consumer Price Index, another significant inflation barometer, also showed a slowing in price hikes.
(Copyright (c) 2026 CNN. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)