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This morning's Money Watch covers the newest inflation numbers showing an 8.5% increase in prices in July compared to a year ago. This follows a record-high inflation rate of 9.1% in June. Gas prices dropping nearly 70 cents in the past month contributed to the decrease. Business analyst Jill Schlesinger notes that the 8.5% increase may indicate that inflation peaked in June, with July numbers better than expected. Gas and energy prices have pushed the overall inflation rate down substantially.
