Consumer Price Index in August increased 0.03% from previous month, less than expected
The index is based on an array of consumer goods.
The Facts Inside Our Reporter’s Notebook
The Labor Department reported Tuesday the U.S. consumer price index rose 0.03% in August, compared to July – a sing that inflation could be cooling.
The CPI, taken from an array of consumer goods, for August increased 5.3% from a year ago. In July, prices rose 0.5% on the month, according to CNBC.
The numbers were lower than expected.
Economists surveyed by Dow Jones expecting a 5.4% annual rise and 0.4% on the month, CNBC also reports.