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US inflation slows as prices pressures ease – business live

Rolling coverage of the latest economic and financial news

Earlier:

Some snap reaction to the news that US inflation cooled last month:

Just out the US August inflation numbers boost the credibility of the transitory inflation story. Headline YoY was 5.3% down from 5.4% in July. MoM was just 0.3% versus expectations of 0.4. MoM used car prices came down. Core inflation down to 4% vs July 4.3%. pic.twitter.com/eHK745l37R

Just out the US August inflation numbers boost the credibility of the transitory inflation story. Headline YoY was 5.3% down from 5.4% in July. MoM was just 0.3% versus expectations of 0.4. MoM used car prices came down. Core inflation down to 4% vs July 4.3%. pic.twitter.com/eHK745l37R

US consumer price inflation cooled in August, as expected. It's too early to know if this is the start of sustainable reversal in the recent inflation surge, but for the moment it's a step in the right direction: https://t.co/OyVo6SpS28 pic.twitter.com/pFPGANRNA3

Used car prices, month-over-month change

Feb: -0.9%
Mar: 0.5%
Apr: 10%
May: 7.3%
Jun: 10.5%
Jul: 0.2%
Aug: -1.5% https://t.co/oMmjm0d7XW

Inflation across the US economy has slipped back, in a sign that some of the pandemic price pressures may be fading.

The US Consumer Prices Index rose by 5.3% in the 12 months to August, down from the 13-year high of 5.4% in July. Energy prices rose by 25% over the year, while the food index increased 3.7%.

US CPI inflation was in line with economist expectations at 5.3% in August, but the big news is that core CPI came in at just 4.0%, rather than 4.2% as expected pic.twitter.com/EfzAsNWAUf

WOW

*U.S. AUG. CORE CONSUMER PRICES RISE 0.1% M/M; EST. 0.3%

Year-over-year inflation chart dipping: pic.twitter.com/m0Zf5KgSWd

BREAKING! US headline #inflation equaled 5.3% in August, matching expectations. Core #CPI, however, fell to 4.0%, 0.2% below expectations! pic.twitter.com/kk55b5kWkT

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