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