U.S. inflation slowed last month and a measure of underlying price pressures also cooled, suggesting higher oil and gas prices from the Iran war are only having a limited impact on broader costs in the economy.

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…