Consumer prices give some respite in July and some hope about runaway inflation in the US.

(CNN) ––

High inflation gave some respite during July, with consumer prices rising 8.5% from a year ago, slowing from the 9.1% increase in June. , the Bureau of Labor Statistics reported Wednesday.

On a month-over-month basis, prices were flat, compared to a 1.3% increase in June.

Core inflation, which excludes volatile food and fuel components, was unchanged year-on-year after June's 5.9% jump.

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