🇺🇸 US inflation eased to 3.4% in July, down from 3.5% in June and 4.2% in May.

Core inflation, which strips out food and energy, also cooled, falling from 2.6% to 2.5%.

Falling petrol prices helped drive the decline, even as fallout from the Iran war continues to ripple through the economy.

The reading came in line with economist expectations.

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