I GUESS. THANKS VERY MUCH. CECILIA. >>> WE TURN TO THE RISING PRICES IN THE HOPE THAT JUST MAYBE, MAYBE WE ARE TURNING A CORNER. THESE NEW NUMBERS SHOW INFLATION JUMPED 8 1/2% FROM A YEAR AGO BUT THAT WAS LESS THAN EXPECTED. A POTENTIAL SLOWDOWN DUE IN PART PERHAPS TO SOME FALLING GAS PRICES. TREVOR AULT IS AT A GAS STATION HERE IN NEW YORK WITH MAYBE SOME MUCH NEEDED GOOD NEWS ON THIS. HEY, TREVOR. >> Reporter: HEY, GOOD MORNING, CECILIA. YEAH, THIS MORNING AT THIS BROOKLYN SHELL STATION A GALLON OF REGULAR WILL SET YOU BACK $4.15, WHICH FOR NEW YORK CITY COMPARED TO EARLIER THIS SUMMER, I GOT TO TELL YOU, FEELS LIKE A BARGAIN. WE REMEMBER WHEN THE NATIONAL AVERAGE FOR GAS WENT ABOVE $5 A GALLON BACK IN JUNE. THIS MORNING IT'S JUST DIPPED BELOW $4 A GAL LONG ON AVERAGE, $3.99. GAS PRICES FELL 7.7% IN JULY. THEY'VE GOTTEN LOWER, 58 DAYS IN A ROW NOW AND THE CHEAPEST PRICE FOR A GALLON OF GAS ON AVERAGE NOW IS IN TEXAS, $3.49 BUT NOT JUST GAS PRICES GETTING CHEAPER. AIRLINE FARES, USED CARS AND TRUCKS AND COMMUNICATIONS LIKE COMPUTERS AND INTERNET HAVE GOTTEN CHEAPER ALONG WITH APPAREL BUT A LONG WAY TO GO. ON AVERAGE THIS TIME LAST YEAR A GALLON OF GAS WOULD COST YOU $3.18. >> YEAH, YOU'RE RIGHT. TREVOR, THANKS. >>> WE TURN TO WALL STREET REACTING POSITIVELY TO THESE NEW NUMBERS AND A POTENTIAL INFLATION SLOWDOWN SO REBECCA JARVIS IS RIGHT THERE TRACKING IT ALL FROM THE STOCK EXCHANGE. HEY, REBECCA. >> Reporter: HEY, CECILIA, GOOD MORNING TO YOU AND IN A WORD, THIS REPORT WAS A RELIEF FOR WALL STREET. YESTERDAY'S REPORT SHOWING INFLATION UP 8 1/2% VERSUS A YEAR AGO, THAT'S STILL LESS THAN WHERE WE WERE JUST A MONTH AGO IN JUNE AND THE WAY WALL STREET SEES THIS IS THAT WE'VE TURNED A CORNER, THAT INFLATION HAS PEAKED AND AS YOU JUST HEARD THERE FROM TREVOR, A BIG REASON FOR THAT IS GAS PRICES, THERE ARE STILL AREAS OF THE ECONOMY, HOWEVER, THAT ARE MUCH HIGHER THAN THEY WERE A YEAR AGO, GROCERIES AND SHELTER, THESE ARE THINGS YOU JUST CAN'T GET AROUND AND EVEN THOUGH WE'VE TURNED A CORNER ON INFLATION, WE'RE NOT OUT OF THE WOODS YET ACCORDING TO ECONOMISTS AS FAR AS THE BROADER ECONOMY. IT IS LIKELY ACCORDING TO ECONOMISTS THAT WE WILL STILL FACE A MILD RECESSION AHEAD. T.J. >> ALL RIGHT, BUT STILL A LITTLE