Learned 5 important things about the economy this week

A weekly roundup of fresh data shows inflation cooling but still weighing on households. A federal report Wednesday indicated consumer prices rose just 0.1% from June to July, and annual inflation slowed for a second straight month. Groceries were slightly cheaper month to month, dipping between June and July, but remain up 2.7% from a year earlier; beef is still rising while chicken and eggs are cheaper. Gasoline fell modestly in July and June, yet is still nearly 25% higher than a year ago, with AAA citing reduced progress moving oil tankers through the Strait of Hormuz. Retail sales dipped 0.6% in July, influenced by Prime Day, while still rising year over year across categories such as restaurants.