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July inflation report to provide crucial signs of where prices are headed — 12:09 a.m.
By the Associated Press
Is US inflation stuck at a stubbornly high level or is it steadily cooling?
The government’s latest report on consumer prices, to be released Wednesday, should provide some hints. It will be closely watched by the inflation-fighters at the Federal Reserve as well as Republicans facing tough midterm elections, not to mention consumers still struggling with high grocery prices.