U.S. inflation in July hits lowest rate in 3-plus years

Year-over-year inflation in the United States reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.

U.S. inflation in July hits lowest rate in 3-plus years
A man in a plaid jacket walks by a for rent sign.

Year-over-year inflation in the United States reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting up the Federal Reserve for an interest rate cut in September.