SEPTEMBER 13, 2022, UPDATE:
WASHINGTON (AP) — Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August 2022 for a second straight month, though many other items rose in price, indicating that inflation remains a heavy burden for American households. Consumer prices surged 8.3% in August compared with a year earlier. Though still painfully high, that was down from an 8.5% jump in July and a four-decade high of 9.1% in June. On a monthly basis, prices rose 0.1% after a flat reading in July. And excluding the volatile food and energy categories, so-called core prices jumped 0.6% from July to August, higher than many economists had expected and a sign of inflation’s persistence.
SEPTEMBER 13, 2022:
WASHINGTON (AP) — A sign that the painful inflation of the past 18 months may be gradually easing could come Tuesday (Sept. 13, 2022), when the government is expected to report that the acceleration in U.S. prices slowed in August compared with a year ago for a second straight month. Economists have forecast that the report will show that prices jumped 8.1% from 12 months earlier, down from a four-decade high of 9.1% in June and 8.5% in July. Sharply lower gas prices are behind much of the decline, along with the costs of used cars, air fares and clothing.
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