(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.
Critical inflation report today could show price increases have eased
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