US CPI data throws surprise, core inflation rises more than expected

The US Bureau of Labor Statistics has released the latest CPI data for August 2024. The annual inflation rate in the US slowed for a fifth consecutive month to 2.5% in August 2024, the lowest since February 2021, from 2.9% in July, and below forecasts of 2.6%.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.2 percent on a seasonally adjusted basis, the same increase as in July, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all-items index increased 2.5 percent before seasonal adjustment.

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