U.S. inflation slowed again last month, even as core consumer price index accelerated.
The headline consumer price index (CPI) in August rose +8.3% year-over-year, compared to +8.5% in July. The figure, however, exceeded the Street consensus forecast of 8.1%.
While the energy price fell -5% from the year-ago period, food price inflation came in at +11.4% y/y (the fastest pace since April 1979).
The core inflation gauge, which excludes volatile components such as food and energy prices, climbed +6.3% year-over-year, beating the Street forecasts.