Inflation slowed down sharply in August after it started softening in July, as the Delta wave hits the brakes on spending
Inflation cooled off — again — in August as the wave of Delta cases slowed spending and threatened the broader economic recovery.
The Consumer Price Index — a popular measure of nationwide price growth — gained 0.3% last month, the said Tuesday. That missed the median estimate for a 0.4% jump from economists surveyed by Bloomberg. It also reflected a slowdown from July's 0.5% increase.The aforementioned metric tracks the prices of various goods and services to measure inflation in the US economy. Core CPI, which excludes volatile food and energy prices, gained 0.1% last month, falling short of the 0.3% estimate. That marked the weakest core inflation since February and a slowdown from 0.3% growth in July.
That sudden surge in price growth has since eased up. The CPI price index's year-over-year reading was flat through July, and
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