Inflation rose 0.1% in August even with sharp drop in gas prices

Inflation rose 0.1% in August even with sharp drop in gas prices

  • The consumer price index increased 0.1% in August. Excluding food and energy, the inflation gauge rose 0.6%, both higher than expected.
  • Costs were driven by increases in food, shelter and medical care services, offsetting a sharp decline in gasoline prices.
  • Real average hourly earnings adjusted for inflation rose 0.2% for the month. However, they remained down 2.8% from a year ago.

https://www.cnbc.com/2022/09/13/inflation-rose-0point1percent-in-august-even-with-sharp-drop-in-gas-prices.html


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