United States Inflation August 2022

United States

United States: Inflation declines to lowest level since April in August

September 13, 2022

Inflation came in at 8.3% in August, which was down from July’s 8.5%. August's reading marked the weakest inflation rate since April, but was still more than four times the Federal Reserve’s 2.0% target. Softer energy price inflation more than offset faster food price inflation.

Annual average inflation rose to 7.7% in August (July: 7.4%). Meanwhile, core inflation rose to 6.3% in August, from July’s 5.9%.

Finally, consumer prices rose 0.12% from the previous month in August, contrasting July's 0.02% fall and market expectations of a decline.

FocusEconomics Consensus Forecast participants expect inflation to average 8.0% in 2022, which is unchanged from last month’s forecast. For 2023, the panel expects inflation to average 3.8%.


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United States Inflation August 2022

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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