Money The Daily Money: Inflation drops to 8.5% but food prices and rent keep rising August 10, 2022 Jayme Deerwester, USA TODAY Comments Off on The Daily Money: Inflation drops to 8.5% but food prices and rent keep rising Overall, inflation dropped six-tenths of a point in July. But the news isn't all good: Core inflation, which ignores energy and food, went up 1.4%.