Inflation slowed for a second month in August, with consumer prices increasing 0.1% since July, the Labor Department said on Tuesday.
Inflation slowed for a second month in August, although prices remain near a four-decade high as costs for food and rent continued to climb.
"Unpleasant surprises aplenty are found in the August Consumer Price Index," noted Mark Hamrick, senior economic analyst at Bankrate, in an email."The prices for necessities continue to fuel this fire, including shelter, food, and medical care."
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