US Core CPI Slowed
US inflation has surprisingly slowed in August after apparel prices declined to almost 70-year minimum. According to the Labor Department data, the core CPI, ex-food and energy costs, lifted 2.2% in August, comparing to 2017. The broader CPI reduced from 2.9% to 2.7% from a year ago. Meant inflation-adjusted hourly pay increased 0.2% comparing to 2017.
From July, the core CPI grew 0.1%. The broader CPI was up 0.2%. Excluding apparel, the index for medical care dropped 0.2%. The shelter category rose 0.3%. Used cars and trucks prices lifted 0.4%. Airfares were up 2.4% after a 2.7% rise in July.
Seasonally adjusted gasoline prices surged 3% in August from July. Annually, the prices increased 20.3%.