U.S. inflation shows signs of easing in August amid Delta variant surge

u s inflation shows signs of easing in august amid delta variant surge

Sumary of U.S. inflation shows signs of easing in August amid Delta variant surge:

  • U.S. consumer goods prices rose less than expected in August, as inflation showed signs of easing up amid the Delta variant-driven COVID-19 surge and continued supply constraints, the U.S. Labor Department said Tuesday.
  • “Inflation has begun to show signs of cooling in response to the Delta variant but the level of prices remains extremely elevated, especially for big-ticket items,” Diane Swonk, chief economist at Grant Thornton, a major accounting firm, said in a blog.
  • She noted that new vehicle prices, in particular, jumped 1.2 percent in August and were up a whopping 7.6 percent from a year ago.

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