The Labor Department said the consumer price index showed that inflation ticked higher in August as price pressures in the economy remained unusually high.
Food has been one of the most visceral reminders of red-hot inflation for Americans. In August, the cost of groceries increased for the fifth straight month.
Consumers paid more for a number of items in August, with the price rising for fresh biscuits, rolls and muffins , beef and veal , pork , chicken , fish and seafood , instant coffee , sugar and salad dressing . dropped by 2.5% in August. The price of eggs is now down 18.2% when compared with the same time last year.There was some good and bad news for Americans looking to buy a used car in August.surged in August, climbing 5.6% over the course of the month. That included a 10.5% rise in gasoline, which accounted for more than half of the increase in headline inflation, the Labor Department said.marched higher in the wake of major supply cuts by OPEC+.
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