US CPI inflation falls modestly

inflation-road-sign

The US Bureau of Labor Statistics announced on September 13 that consumer price index (CPI) inflation was 8.3% in August, down from 8.5% in July. This is the second consecutive drop in year-on-year CPI inflation in the US, but the figure was higher than some forecasts.

The core CPI reading, subtracting food and energy prices, rose to 6.3% in August, an increase from 5.9% in July.

The BLS reported a slight increase in month-on-month inflation of 0.1%, after reporting no inflation between June

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