Inflation cooled last month as gas prices fell, though costs remain elevated

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View in Browser Inflation cooled last month as gas prices fell, though costs remain elevated August 12, 2026 Consumer prices rose 3.4% in July from a year ago, down slightly from 3.5% in June, the Labor Department said Wednesday. But inflation is still higher than before the Iran war began in February, when it was 2.4%. Read more Want more from AP News? Sign up for Morning Wire and Afternoon Wire for a rundown of the top stories of the day. ADVERTISEMENT SUPPORT THE AP. DONATE. Manage preferences  | Privacy policy | Unsubscribe     *Advertisers have no control over editorial decisions or content. If you're interested in advertising, contact us here.