US inflation grows to 3.7% in August
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.