US inflation eased to 3.4% in July from 3.5% in June, as food and gasoline prices declined monthly despite annual energy costs remaining significantly higher.

US inflation report indicates rising costs and slow wage growth. Inflation at 3.3% in July priced at 39.5% YES.

Annual inflation slowed for the second month in a row, cooling to 3.4% in July as prices at the pump delivered less of a bite, according to new data released Wednesday by the…