Inflation in the U.S. may have reached its peak. A big part of that is falling gas prices, which recently dipped back below the $4 per gallon mark. The price of crude oil is also on the decline, closing at just under $90 a barrel on Friday.

• Plus, a new phase in the search for habitable planets.
• And, a historic moment at the Iowa State Fair.

Guests: Axios' Javier David and Miriam Kramer.

Credits: Axios Today is produced by Niala Boodhoo, Sara Kehaulani Goo, Alexandra Botti, Lydia McMullen-Laird, Alex Sugiura, and Ben O'Brien. Music is composed by Evan Viola. You can reach us at podcasts@axios.com. You can text questions, comments and story ideas to Niala as a text or voice memo to 202-918-4893.

Go deeper:

• Inflation drops to zero in July due to falling gas prices
• Axios’ Jason Clayworth is the first guy in the Iowa State Fair’s husband calling contest
• A new chapter in the search for alien planets