Photo: Kyle Kersbergen works on heavy machinery at Weiler, a manufacturing factory in Knoxville, Iowa, on July 21, 2023. Photographer: Rachel Mummey/Bloomberg Kyle Kersbergen works on heavy machinery at Weiler, a manufacturing factory in Knoxville, Iowa, on July 21, 2023. Photographer: Rachel Mummey/Bloomberg

A key measure of U.S. consumer prices rose only modestly for a second straight month, bolstering hopes that the Federal Reserve can tame inflation without sparking a recession.

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