US Inflation Posts Biggest Monthly Increase in 2023 as CPI Rises 0.6%

The U.S. Department of Labor released new data today showing a 0.6% increase in the consumer price index (CPI) for August. This is the largest monthly rise in U.S. inflation so far this year. The report showed that prices have gone up by 3.7% compared to August of last year, slightly higher than what economic analysts had predicted. The CPI is used to measure the average change over time in the cost of goods and services. ... Read More: US Inflation Posts Biggest Monthly Increase in 2023 as CPI Rises 0.6%