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July's CPI print points to signs of moderating inflation data, to which San Francisco Fed President Mary Daly states the Fed is committed to "resolutely bringing inflation back down to its 2 percent target."

PNC Financial Services Group Chief Economist Gus Faucher breaks down the economic outlook following the July CPI print in relation to the Fed's interest rate cycle to lower inflation and various recessionary concerns.

More Yahoo Finance inflation coverage:

• Stocks climb as inflation ticks up but trends stay positive: Stock market news today

• Inflation: Consumer prices rise 3.2% in July as inflation slowdown stalls

• Inflation: Grocery prices are back up (slightly), beef prices jump

• Housing costs are a big driver of inflation — for now

• July inflation report: New and used car prices keep falling

• July CPI report: Monthly inflation falls in line with estimates, rises by 0.2%

• Inflation moderating, Disney earnings, Alibaba revenue: 3 Things
  
  This post was written by Luke Carberry Mogan.