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US consumer price inflation shows signs of easing

Relief may be on the horizon for consumers in the United States who've grown weary of seeing their...

👤 H K Badal14 Sep 2021 5:56 PM GMT
US consumer price inflation shows signs of easing
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Relief may be on the horizon for consumers in the United States who've grown weary of seeing their dollar stretch less and less further this year.

US consumer prices increased 0.3 percent in August, after rising 0.5 percent the previous month, the US Department of Labor said on September 14.

That is the slowest pace of price rises since January.

In a further sign of possible easing, consumer prices rose 5.3 percent over the past 12 months.

Prices for petrol, household furnishings and operations, food, and shelter all increased last month.

New vehicle prices rose 1.2 percent in August after increasing 1.7 percent in July, while prices for used cars and trucks, meanwhile, fell 1.5 percent in August – bringing an end to five consecutive monthly increases.

In a sign that the spread of the highly contagious Delta variant of the coronavirus may be weighing on some sectors of the economy, prices for airline fares decreased last month.

Inflation has been climbing as businesses ramp up operations en masse, triggering bottlenecks for labour, materials, and shipping.