Inflation in the US is on the decline.
The inflation rate for goods and services fell to 8.5 percent in July from 9.1 percent in June, the Labor Department said in Washington on Wednesday.
Experts polled by Reuters had expected 8.7 percent.
The US Federal Reserve recently fought rampant inflation with unusually large interest rate hikes and intends to do more in September.
The amount of the interest rate hike is likely to depend largely on the development of consumer prices.
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