Inflation rose more than expected in August, even as gas prices helped give consumers some rest, the Bureau of Labor Statistics said Tuesday.
The consumer price index, which tracks a wide range of goods and services, rose 0.1% for the month and 8.3% over the past year. Excluding volatile food and energy costs, CPI rose 0.6% from July and 6.3% from the same month in 2021.
Economists had expected headline inflation to fall 0.1% and core inflation to rise 0.3%, according to Dow Jones estimates. The respective year-on-year estimates were 8% and 6%.
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