US annual inflation eased in August - But likely not enough ...Middle East

WASHINGTON: US annual inflation slowed in slightly in August, largely thanks to falling gasoline prices -- but likely not enough to satisfy the Federal Reserve and President Joe Biden, as high prices continue inflicting pain on Americans.The consumer price index (CPI), a key measure of inflation, actually rose 0.1 percent in August compared to July, when prices were flat, the Labor Department said Tuesday, a disappointing result amid widespread expectations that inflation would fall in the month.The annual inflation pace improved to 8.3 percent, higher than expected but slightly below the prior months and confirming a slowdown from the blistering 9.1 percent rate in June -- the highest in 40

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Last updated : 13 September 2022 clock 04:56 PM

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US annual inflation eased in August - But likely not enough ...Middle East

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