Consumer prices cooled in August, easing inflation concerns - NewsBreak

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By Hardik in Business
Updated 3 years ago

U.S. consumer prices rose lower-than-expected 0.3% last month, the smallest increase in seven months and a sign that inflation pressures may be cooling. The August gain fell from a 0.5% increase in July and a 0.9% surge in June, the Labor Department reported Tuesday. It was the smallest increase since a similar 0.3% rise in January. The August slowdown in prices was seen as offering some hope that Americans were finally starting to see some relief from a price surge earlier in the year.

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