Consumer prices post smaller than expected increase in August

Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday.

The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year ago and 0.3% from July. A month ago, prices rose 0.5% on the month.Stripping out volatile food and energy prices, the CPI rose just 0.1% for the month vs. the 0.3% estimate, and 4% on the year against the expectation of 4.2%.

The 5.3% annual increase still keeps inflation at its hottest level in about 13 years, though the August numbers indicate the pace may be abating.Energy prices accounted for much of inflation increase for the month, with the broad index up 2% and gasoline prices rising 2.8%. Food prices also were up 0.4%. Energy is up 25% from a year ago and gasoline has surged 42% during the period.Used car and truck prices, which had been a major feeder of the headline inflation gains, fell 1.

Federal Reserve officials have been watching inflation closely but have largely said they believe this year's burst will be temporary and due to factors that will soon fade. They cite supply chain bottlenecks, shortages of critical products like semiconductors and heightened pandemic-related demand for goods as major contributors that at some point will drift back to normal levels.

Markets largely expect the Fed to start pulling back on some of the unprecedented monetary policy help the central bank has provided during the pandemic. Fed policymakers themselves have indicated that they probably will start slowing the pace of their monthly bond purchases before the end of the year.CNBC Pro

My friend Scott Callahan was murdered w a bciscan made by DARPA. Used by Darren sipes mark mccubbins and Leah sipes of Meade co.

misses estimate...but is still +5%

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

House Democrats post record August fundraising ahead of 2022The campaign organization aiming to maintain Democratic control of the House in the 2022 midterm races raised $10 million last month. Please reinstate UI payments for Covid LongHaulers. We are debilitated, can’t work and have been the forgotten ones through this Pandemic. CDCDirector RepPressley SenWarren Surgeon_General VinGuptaMD POTUS SecMartyWalsh KJP46 VP CBS NBCNews politico nytimes Including 100 bucks from me. 'Oh you don't like us. We can buy your freedom to self-determination and if you don't like that we determine you can live in hell.'
Source: ABC - 🏆 471. / 51 Read more »

U.S. August budget deficit falls as revenues recoverThe U.S. government on Monday posted a $171 billion budget deficit for August, 15% lower than the $200 billion gap a year ago, as recovery-driven tax receipts grew faster than outlays for COVID-19 pandemic relief programs, the Treasury Department said.
Source: Reuters - 🏆 2. / 97 Read more »

August freight costs see record year-over-year increaseThe cost of shipping items is getting even more expensive — with U.S. freight rates in August surging 27% year-over-year. FrankCNBC has the latest.
Source: CNBC - 🏆 12. / 72 Read more »

BTS, TXT, Astro, Red Velvet, Cravity, CIX And Stray Kids: The 10 Bestselling Albums In Korea In AugustThree albums sold at least 500,000 copies in South Korea in August alone.
Source: Forbes - 🏆 394. / 53 Read more »

House Democrats Consider 26.5% Corporate Tax RateHouse Democrats are considering calling for raising the corporate tax rate to 26.5% from 21% and imposing a surtax on people making over $5 million More import tax on Chinese products, and more domestic corporate tax, wonder where the capitals will flow. They can afford it. It's a minimum that they need to focus on
Source: WSJ - 🏆 98. / 63 Read more »

Price increases expected on these grocery products through end of yearThe spike on certain 'food-at-home' categories has stores—already slammed by inflation and demand—setting sights on higher product prices through the end of the year. Why are farmers being paid less for the cattle headed for slaughter while the grocery stores charge more for the finished packing? Price of Kroger's meat was higher even before the pandemic! Thanks Joe
Source: ABC - 🏆 471. / 51 Read more »