US consumer prices rise 0.3% in August, lowest in 7 months
ABC News
U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest monthly increase n seven months and a hopeful sign that inflation pressures may be cooling
WASHINGTON -- U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling. The August gain fell from a 0.5% increase in July and a 0.9% surge in June, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.3% rise in January. The August slowdown in prices was seen as offering some hope that Americans were finally starting to see some relief from a price surge earlier in the year. Over the past 12 months, prices are up 5.3% a slight improvement after two months of gains of 5.4%, which had been the highest 12-month gains since 2008.More Related News