CPI report August 2023: Inflation rose 0.3%


Inflation posts biggest monthly increase of 2023 as CPI report comes in hotter than expected

Inflation posted its biggest monthly increase this year in August as consumers faced higher prices on energy and a variety of other items.

The consumer price index, which measures costs across a broad array of goods and services, rose a seasonally adjusted 0.6% for the month, and was up 3.7% from a year ago, the U.S. Department of Labor reported Wednesday. Economists surveyed by Dow Jones were looking for respective increases of 0.6% and 3.6%. The two numbers were up 0.2% and 3.2% in July.

However, excluding volatile food and energy, the core CPI increased 0.3% and 4.3%, respectively, against estimates for 0.2% and 4.3%. Federal Reserve officials focus more on core as it provides a better…


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