US inflation slowed to 3.4% in July, gas averages $4
Business
US inflation slowed to 3.4% in July, offering a small break after the June dip.
The brief U.S.-Iran ceasefire in June helped lower energy prices for a moment, but with that over, gas is back up, averaging $4 per gallon, which is still more than $0.85 from last year and higher than before the conflict.
US job losses 23,000 in July
The latest report shows 23,000 jobs were lost in July, and earlier job gains got revised down by quite a bit.
With higher prices hitting wallets and fewer new jobs out there, things feel tough for workers right now.
Meanwhile, Federal Reserve chair Kevin Warsh says he's taking a balanced approach to get inflation down to 2%, though some at the Fed want faster action because rising costs are squeezing both households and businesses.