Inflation slows but prices remain elevated as Iran war and spending on AI push up prices

4% in July compared to the same time last year. 5% increase seen in June. The cost of gas and groceries has slipped, contributing to the decline in inflation.

However, prices are still rising more quickly than they were before the Iran war. Further details on the current inflation rate and its impact on the economy are available from the Labor Department, as reported by KSAT 12.