US inflation grows to 3.7% in August - Breaking The News

US inflation grows to 3.7% in August

13 September

1 min read

EPA-EFE/SHAWN THEW

The Consumer Price Index (CPI) in the United States rose by 3.7% in August compared to the same month in 2022, according to the report by the Bureau of Labor Statistics on Wednesday. Annual inflation continued its upward trend in August after growing to 3.2% in July. On a monthly basis, the CPI increased by 0.6%.

The report identified gasoline as the largest contributor, followed by shelter. The energy index rose 5.6% in August month-on-month, while the food index added 0.2%. CPI excluding food and energy, also known as core inflation, increased by 4.3% year-on-year, compared to 4.7% in July.

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