Sign In  |  Register  |  About Santa Clara  |  Contact Us

Santa Clara, CA
September 01, 2020 1:39pm
7-Day Forecast | Traffic
  • Search Hotels in Santa Clara

  • CHECK-IN:
  • CHECK-OUT:
  • ROOMS:

Inflation rises 2.5% in August, less than expected

Inflation declined in August to the lowest level since 2021, as prices rose 2.5% from last year. The data boosts the Federal Reserve's case for an interest rate cut next week.

Inflation fell in August to the lowest level in over three years, adding to the Federal Reserve's case for an interest rate cut next week even as prices remained uncomfortably high for millions of Americans.

The Labor Department on Wednesday said that the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in August from the prior month, in line with the expectations of economists polled by LSEG.

Prices climbed 2.5% in August from the same time last year, slightly less than LSEG estimates and down from 2.9% in July. That's the lowest level since February 2021.

This is a developing story. Please check back for updates.

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.
 
 
Copyright © 2010-2020 SantaClara.com & California Media Partners, LLC. All rights reserved.