US inflation slowed in August

The Bureau of Labor Statistics of the US Department of Labor indicated that the economy had a decrease of two tenths, standing at 8.3 %

Inflation in the United States stood at 8.3 % last August, which represents a decrease of two tenths compared to July, thus chaining two months of moderation, according to the data released this Tuesday by the Bureau of Labor Statistics of the US Department of Labor.

Energy inflation moderated to 23.8 % in the eighth month of the year, which is nearly nine percentage points less than the increase in prices recorded in July.

On the other hand, food prices maintained their constant rate of growth, with inflation of 11.4 %, five tenths more than in the previous month. Food prices accumulate a growing inflation month by month since June 2021.

In this way, core inflation in the United States, which is the result of excluding food and energy prices from the calculation, stood at 6.3 % in August, four tenths more.

Since March, the US Federal Reserve has launched one of the fastest interest rate hikes in decades. In just four months, the central bank has raised the price of money by 2.25 percentage points, to its highest level since December 2018.

K. Tovar

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Source: Notiamerica

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