Inflation eases in July as gasoline and grocery prices fall Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June.

Inflation eases in July as gasoline and grocery prices fall Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June. Consumer prices in July were up 3.4% from a year ago — a smaller annual increase than in May or June.