US CPI inflation falls modestly
New York Fed reports “steep declines” in inflation expectations, but core CPI ticks up
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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