Inflation Cools

Fresh inflation data offered economists and policymakers further evidence that price increases are meaningfully cooling, good news more than a year into the Federal Reserve’s campaign to slow the economy and wrestle cost increases back under control.

The Consumer Price Index climbed 3.2 percent in the year through July, according to a report released on Thursday. That marked the first acceleration in 13 months, and followed a 3 percent reading in June.

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