The consumer price index increased 0.2 per cent after a sharp 0.5 per cent advance in January, according to Bureau of Labor Statistics data out Wednesday
The consumer price index increased 0.2 per cent last month after gaining 0.2 per cent in August, the Labor Department's Bureau of Labor Statistics said
In the 12 months through August, the CPI advanced 2.5 per cent. That was the smallest year-on-year rise since February 2021 and followed a 2.9 per cent increase in July
Away from inflation, there are scant signs of stress in the economy. The latest jobs report pointed to moderating yet healthy employment growth that will keep consumer spending afloat.
Resilient demand in the world's largest economy, bolstered by unrelenting job growth, has complicated Federal Reserve efforts to get inflation down to its preferred level
The index for shelter was the largest contributor to the monthly all items increase, accounting for more than 70 per cent of the increase, Xinhua news agency reported
Excluding the volatile food and energy components, core CPI increased to 6.3% from 5.9% in July, putting further pressure on the Fed to continue on its rate-hiking spree
While last week's strong jobs report allayed fears of recession, inflation numbers this week showed the largest month-on-month deceleration of consumer price increases since 1973
Spot gold was down 0.4% at $1,719.49 per ounce by 09:35 a.m. ET (1335 GMT), after dropping to its lowest since August at $1,707.09 earlier in the session. US gold futures were down 0.6% at $1,714.60
US consumer price data due to be released later on Thursday is expected to show the pace of annual price increases jumped to 7.9% last month from 7.5% in January
