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Inflation Slows But Pressure Remains | Salt Lake City News
Inflation cooled slightly last month, dropping to 3.4% from 3.5% in June, offering hope the Fed may pause rate hikes—but prices still outpace paychecks. Core inflation, excluding volatile food and energy, hit a low of 2.5%, but rising gas prices could push numbers up again. Tariffs and oil costs are weighing on the economy, while some goods like groceries and hotels dipped in price, while others—computers, flights—climb. Services such as healthcare and dining continue to spike due to wage increases, yet incomes aren’t keeping up. With job growth slowing and companies split between delaying or…
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