Dunno why keep repeating this is good news as it is an expected news as June inflation it's already few decade high reading indeed. Better do not jump into market now else you will get burn again.
U.S. Consumer Prices Rose 8.5% in July, Less Than Expected As Inflation Pressures Ease a Bit
We are in a volatile market so just need to be clear of your mind of what you have invested. Grab should give you better returns in medium to long term.