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DAILYCALLER (Jack McGeever) - Retail Sales Suffer Biggest Drop In More Than A Year As Iran War Casts Shadow Over Economy

Americans sharply pulled back on retail spending in July even as inflation remained elevated, raising fresh questions about whether the U.S. economy is weakening beneath the surface of the Iran war’s supply-driven price shock.

Keywordsretail-saleseconomyinflationjuly-dataconsumer-spendingiran-warsupply-chaineconomic-contractionpurchasing-powerus-economyfinancial-newsmarket-downturnprice-shockglobal-instabilitycost-of-living

NEWSNATIONNOW (CHRISTOPHER RUGABER, Associated Press) - Inflation cooled last month as gas prices fell, though costs remain elevated

WASHINGTON (AP) — U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy. Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, [...]

What was the trend in U.S. inflation and underlying price pressures as of July?
U.S. inflation slowed last month and a measure of underlying price pressures also cooled, indicating that higher oil and gas prices stemming from the Iran war are having only a limited impact on broader economic costs.
Q&A ID f6d8c882-c41c-47d6-990f-6062ad4bf98e
How much did U.S. consumer prices rise in July compared to the previous year?
Consumer prices rose 3.4% in July from a year ago, which is a slight decrease from the 3.5% increase recorded in June.
Q&A ID b693d2a3-6c17-4428-ab72-b04b076edeb1
Keywordsinflationconsumer-priceseconomyus-economygas-pricesoil-priceseconomic-indicatorscost-of-livingppicpimonetary-policyfederal-reservemiddle-classfinancial-newsmarket-trendsfiscal-policyjuly-dataprice-pressuresinflation-reportmacroeconomics