What the July CPI inflation report means for Floridians

The July Consumer Price Index report showed inflation edging up 0.1% for the month and 3.4% year-over-year, coming in right in line with market expectations. With core CPI cooling slightly to 2.5%, traders have reduced the likelihood of a Federal Reserve interest rate hike when policymakers meet in September.  FOX 35 spoke with Sheridan Morby, Senior Director of Economic Research at the Florida Chamber Foundation, about how this will affect the pockets of Floridians.