Many people are still feeling the lasting impact of inflation, with everything from gas to groceries costing us more money

The U.S. Labor Department reported Friday inflation rose nearly a percent during July.

So, is inflation showing signs of slowing?

According to Moody’s Analytics, Americans spent $709 more in July than they did two years ago.

In spite of inflation reaching extreme highs in 2022, inflation pressures have eased, per the latest numbers released from the Labor Department.

For Americans, feeling the strain on their wallets has made them think twice before borrowing.

Analysts say the July rise in wholesale prices from previous months’ low levels still reflects an overall easing inflation trend.