Year-over-year inflation reached its lowest level in more than three years in July, the latest sign that the worst price spike in four decades is fading and setting

With the post-pandemic spike in U.S. inflation easing further last month, the path was cleared for the Fed to cut interest rates

U.S. inflation slowed to 2.5 percent in the year through August, but beneath the surface the details suggested that the costs of key categories, like housing, were stubborn.