Inflation Slows But Costs Still Bite | Durham News

Inflation dipped to 3.4% in July, a small relief but still above the Fed’s 2% target. Energy and gas prices remain sky-high, with North Carolina’s average gallon hitting $3.68 — up nearly 25% from last year. Families scramble to cut costs, but consumer spending holds steady, even as core inflation (excluding food and energy) slips to 2.5%. The Fed’s next decision on interest rates looms in mid-September, watching for signs of real progress. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/c6042f270297e510