Falling prices for gas, airline tickets and clothes gave Americans a little bit of relief last month, though overall inflation is still running at close to its highest level in four decades. Still retired Ripon College economist Paul Schoofs says news that consumer prices increased less in July compared to June is good news. Schoofs says the easing of wholesale inflation from June to July suggests that consumers could get some relief from inflation in the coming months. It was the first monthly drop since April 2020, and down from a sharpe 1% increase from May to June.
