US Annual Inflation Slows to Lowest Level Since February 2021

The U.S. annual inflation rate came in below economists’ expectations as broad-based price pressures continue stabilizing across the economy. According to the Bureau of Labor Statistics, the consumer price index (CPI) slowed to 2.5 percent in August, down from 2.9 percent. The consensus estimate was 2.6 percent. Monthly inflation rose by 0.2 percent, unchanged from July and in line with market forecasts. Core inflation, which removes the volatile energy and food categories, held steady at 3.2 percent, matching economists’ projections. The core CPI jumped at a higher-than-expected pace of 0.3 percent, up from 0.2 percent in the previous month. Services inflation was unchanged at 4.9 percent. Since January 2021, cumulative inflation has surged by 20 percent....