The inflation figures for July were ugly. But oil prices have fallen and the dollar has strengthened in August. Too bad a global slowdown is the reason.
Two key reports in the past week show that inflation was running high in July. But August is offering relief.
Oil has fallen to about $112 a barrel, nearly 25% from its mid-July record high. Gas prices have declined for 33 consecutive days. After flirting with $1,000 an ounce last month, the price of gold is now below $800.
And the dollar? It's gained more than 8% against the euro in the past few weeks.
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