Recent inflation numbers show that inflation is slowing across goods and services, according to ZipRecruiter chief economist Julia Pollak.

The BLS announced that headline inflation climbed from 3% in June to 3.2% last month, with monthly statistics showing stabilizing inflationary pressures.

Annualizing the newest inflation figures makes it less scary.

Six-month and three-month annualized inflation in July were 2.52% and 1.89%, respectively.

The Fed targets 2%. Core inflation, which includes volatile food and energy costs, rose 0.2% for the second straight month in July, the smallest back-to-back gain in over two years.

Core inflation’s 4.7% year-over-year increase is “encouraging,” despite base effects.

As wage growth outpaces inflation, consumer spending will rise, and the labor market will remain resilient.