US inflation slows to 8.3% in August but prices still rising

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Falling gas prices were major contributor to drop but costs of goods and other services still going upPrices in the US surged again in August but the pace of inflation slowed for the second consecutive month as energy costs fell.The Consumer Price Index (CPI), the Bureau of Labor Statistics’ monthly cost of living survey, found prices were 8.3% higher last month compared with August last year. The figure was down from an annual rate of 8.5% recorded in July and 9.1% in June, the highest rate in four decades. Continue reading... ...

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