US consumer prices rose at a more moderate pace in August, in a sign that inflationary pressures associated with the economic reopening from Covid-19 lockdowns are easing slightly while remaining near a 13-year high.
The consumer price index published by the Bureau of Labor Statistics on Tuesday rose 5.3 per cent in August from a year ago — just below the 5.4 per cent level reported previously, which is the highest since 2008 and in line with the 5.3 per cent forecast by economists.
Month-over-month price gains slowed, with an increase of 0.3 per cent from July. That is markedly lower than the 0.9 per cent jump reported between May and June and a drop-off from the most recent 0.5 per cent rise from June to July.
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