US energy inflation moderated to 14.7% year-over-year in July 2026, the softest since March, down from 15.7% in the prior month. Prices slowed down further for energy commodities such as gasoline (24.6% vs 27.1% in June) and fuel oil (39.1% vs 42.9%). On the other hand, prices rose faster for piped gas service (4.3% vs 3%) and electricity (4.2% vs 4%). On a monthly basis, energy prices fell by 1.5%, after a 5.7% decline in the previous month.