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Inflation has been stubbornly high for half a decade. But July, at least, brought some relief.
The big picture: With a lively debate underway at the Federal Reserve over whether to raise interest rates, the latest run of data — a soft jobs report Friday and benign readings on inflation this week — allows for patience.
By the numbers: The Producer Price Index was flat in July; excluding food and energy, it was up 0.2%. Both numbers were a tick below analysts' forecasts.
