The Consumer Price Index report for July shows inflation is up 8.5 percent from a year ago, but cooled down from 9.1 percent in June.
Wages have increased 5.2 percent from last year, but housing and food prices are still rising at a pace faster than wage growth so it's not taking the sting out of inflation.
The CEO of Sound Planning Group, David Stryzewski joined OAN's Alicia Summers to discuss.