U.S. inflation slows for the second straight month, new data shows
WASHINGTON (AP) - US inflation slows for a 2nd straight month, to a still-high 8.3% over the past year.
Sharply 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.
Consumer prices surged 8.3% in August compared with a year earlier. Though still painfully high, that was down from an 8.5% jump in July and a four-decade high of 9.1% in June.
On a monthly basis, prices rose 0.1% after a flat reading in July. And excluding the volatile food and energy categories, so-called core prices jumped 0.6% from July to August, higher than many economists had expected and a sign of inflation’s persistence.
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