Inflation Cooled Slightly Last Month

An APNews article

Inflation slowed a bit last month as Americans ramped up their spending, though prices are still elevated and a challenge for many voters that will head to the polls for midterm elections in just over a month.

Consumer prices rose 3.4% in August compared with a year earlier, the Commerce Department said Wednesday, below the 3.7% economist expectations. On a monthly basis, prices climbed 0.3%, up from 0.1% in July, a sign prices that are still running hot.

Excluding the volatile energy and food categories, inflation also came in lower than expected, rising 3% in August from a year ago. And from July to August, core prices rose just 0.2%, up from 0.1% the previous month. Many economists feared core prices would rise more quickly month-to-month.

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