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Inflation slowed from its rapid pace in July, signaling faster price growth might prove temporary as most economists expect.
On a year-over-year basis, the index rose 5.4%, matching June's year-over-year rate. The one-year jump is the largest since July 2008. Used vehicles were one of the clearest examples in past months, but the trend slowed sharply through July. Prices of used cars and trucks rose just 0.2% last month after gaining at least 7.3% in each of the previous three months. The slowdown was a"major factor" dragging on the core measure, BLS said.
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