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Published: Aug 10, 2022 3 min read
Elderly Man In A Supermarket
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Consumers are finally catching a break with a cooldown from historically high inflation rates. But prices for certain common expenses — including food and rent — just keep on soaring.

Consumer prices rose 8.5% on an annual basis in July, according to new data released Wednesday by the Bureau of Labor Statistics (BLS). Declines in gasoline prices and airfare are part of the reason for the improvement over the 9.1% annual growth rate in June, but essentials like groceries and rent are still getting more expensive.

Grocery prices have risen 13.1% over the past year, the BLS said. That’s the largest annual increase since March 1979.