Inflation, as measured by the producer price index, fell eight-tenths of a percentage point to 4.7% for the year ending in July, the Bureau of Labor Statistics reported on Thursday.

Economists have been closely examining PPI reports and other inflation reports amid the war with Iran and concerns that the energy price pressures will continue to translate through to higher overall inflation.

Recommended Stories

Pain ahead: Inflation spiked to 6.5% in May in producer index, highest since 2022

Inflation rose to 3.5% in March in Fed’s preferred gauge because of Iran war fallout

Inflation cooled in June in biggest monthly decline since 2020