US Consumer Prices Up 8.3% In Year To August, Continue Dip From 40-Year Highs - Labor Dept

WASHINGTON (Pakistan Point News / Sputnik - 13th September, 2022) US consumer prices grew by 8.3% in the year to August, extending their retreat from four-decade highs in July, according to Labor Department data on Tuesday that signaled the Federal Reserve's nominal but steady progress in fighting inflation.

"The all items index increased 8.3 percent for the 12 months ending August, a smaller figure than the 8.5-percent increase for the period ending July," the department said in a news release referring to the all-items reading in the Consumer price Index (CPI).