Although the annual U.S. inflation rate fell to 8.3%, Americans are still facing painfully high costs for food, rent and other staples.
Inflation in August slowed for a second straight month, although prices remain near a four-decade high as costs for items such as food and rent continue to climb.
Stock markets soured on the report, with the S&P 500 plunging more than 3% in morning trading. The Dow lost 2.7% and the Nasdaq slid 3.9%.
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US inflation still stubbornly high despite August slowdownSharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households. us inflation kprc2 us
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US inflation slows for 2nd month but remains stubbornly high | amNewYorkU.S. inflation slowed for a second straight month on a sharp fall in gas prices, yet excluding energy most other items got more expensive in August, a sign that inflation remains a heavy burden for American households.
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US inflation slows for 2nd month but remains stubbornly highSharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households
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US inflation slows for 2nd month but remains stubbornly highU.S. inflation slowed for a second straight month on a sharp fall in gas prices. Excluding energy, most other items got more expensive in August, indicating that inflation remains a heavy burden for American households.
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High-stakes inflation report expected to show prices slowed in August but remain elevatedThe August inflation data out Tuesday morning is expected to show that consumer prices slowed in August, but that likely won't be enough to mollify the Federal Reserve.
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Inflation Is Up 8.3% Since Last Year—and More Fed Rate Hikes Are Likely LoomingThe rate of inflation declined slightly to 8.3% in August, but still remains well above the Fed’s 2% benchmark rate.
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