United States: Inflation eases slightly in August
Consumer prices rose a seasonally-adjusted 0.27% from the previous month in August, moderating from July’s 0.47% increase. August’s result marked the weakest reading since January. The cooling of price pressures was largely driven by slower growth in prices for housing. In addition, price pressures for transportation declined at a quicker pace. In addition, prices for medical care grew at a more subdued rate.
Inflation edged down to 5.3% in August, which followed July’s 5.4%. August’s figure represented the lowest inflation rate since May. Annual average inflation rose to 3.0% in August (July: 2.7%). Finally, core inflation edged down to 4.0% in August, from the previous month’s 4.2%.