US inflation ticked back up in August. On a monthly basis, consumer prices rose 0.1% from July. Annual inflation eased for the second-straight month but also remained stubbornly high, with prices up 8.3% year on year.
Minneapolis US inflation ticked back up in August, despite plunging gas prices, according to data from the Bureau of Labor Statistics released Tuesday.
On a monthly basis, consumer prices rose 0.1% from July, according to the Consumer Price Index, which measures a basket of consumer goods and services. Economists had projected that inflation would fall from July to August by 0.1%, after holding steady at 0% growth from June to July.Annual inflation eased for the second-straight month but also remained stubbornly high, with prices up 8.3% year on year, a slowdown from the 8.5% gain in July and the 40-year high of 9.1% in June.