**US Inflation Cools Further to 3.4% in July, Driven by Food & Fuel**
Annual US inflation continued its downward trend in July, dipping to 3.4% as pressure from rising food and fuel prices eased. This moderation offers some relief to consumers who have faced elevated costs. However, housing expenses remained a significant factor, keeping overall price increases slightly higher than they might have been otherwise. This latest inflation data will be a key consideration for the Federal Reserve as it evaluates future monetary policy decisions.
