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July inflation holds steady as gas prices drop

The high inflationary trend leveled off in July as the U.S. Bureau of Labor Statistics announced no increase in the Consumer Price Index last month. Coupled with decreasing gas prices in July and an increase in hourly wages for employees around the country went up a half percent, the news slightly offsets the record high 9.1 percent figure. The gasoline index fell 7.7 percent in July, with the food index increasing 1.1 percent.

Gas prices in the Sturgeon Bay area have dropped as low as $3.69 per gallon for regular unleaded, which is the state average price as of Wednesday. According to AAA, the national average price is $4.01, which is one dollar less than the all-time high of $5.01 in June.

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