U.S. consumer prices rose a lower-than-expected 0.3% last month, the smallest increase in seven months and a hopeful sign that inflation pressures may be cooling.
The Associated Press
While the upward march of prices appears to have eased last month, economists caution that the same underlying causes remain. Supply chains are still snarled especially for critical components like computer chips. Consumer demand is easily outpacing supply, which will push prices higher. For August, food prices rose 0.4%, a slight moderation after gains of 0.8% and 0.7% in the previous two months.
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