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Inflation cooled off as tumbling gas prices offered Americans much-needed relief

The Consumer Price Index rose 8.5% in the year through July, the Bureau of Labor Statistics said Wednesday. Economists surveyed by Bloomberg expected the measure to climb 8.7% year-over-year. The print marks a sizeable cooldown in the headline inflation rate following the 9.1% gain in the year through June.

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Inflation cooled off as tumbling gas prices offered Americans much-needed relief
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