US inflation rose 0.1% in August even with sharp drop in gas prices

Source: CNBC

“Inflation rose more than expected in August even as gas prices helped give consumers a little bit of a break, the Bureau of Labor Statistics reported Tuesday. The consumer price index, which tracks a broad swath of goods and services, increased 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.” (09/13/22)