By Dan Weil A Bank of America Institute report on July consumer payments shows a mixed inflation picture for consumers. The July consumer price report provided mixed data on inflation, with prices unchanged in the month from June but still up 8.5% from a year earlier. A report on July consumer payments by Bank of America Institute, the bank’s internal think tank, similarly showed mixed results. Total payments rose 7% in July from a year earlier, about equal to the increase in June. Credit- and debit-card spending, which account for more than 20% of total payments, gained 8% in July from a year…