Inflation Slowed Down in July, but Consumers Aren't Out of the Woods

For months on end, consumers have been struggling to make ends meet in the face of roaring inflation. Last year, inflation levels started to creep upward during the spring and summer, but back then, Americans had stimulus checks and monthly Child Tax Credit payments to fall back on. This year, there's been no federal stimulus aid, and so many people have had no choice but to raid their savings or take on credit card debt to cover their essential costs.