A closely watched measure of annual wholesale inflation slowed last month, an indication that price pressures are still high but starting to let up a little before they reach consumers.

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…

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…