Critical inflation report today could show price increases have eased

(CNBC) Inflation may finally be cooling, thanks to falling gasoline prices and fading supply chain issues. Economists expect July’s consumer price index rose 0.2%, down from 1.3% in June, according to Dow Jones. Year-over-year, the pace of consumer inflation in July is expected to fall to 8.7%, down from June’s 9.1%. CPI is reported at 8:30 a.m ET Wednesday, and is expected to show that inflation has finally peaked.

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