US Inflation in August Dips, Annual Inflation Rate at 1.7%

The cost of living in United States unexpectedly fell in August for the first time in 16 months, and the annual inflation rate retreated to the lowest level in five months, the US Labor Department reported Wednesday, Sept. 17, in Washington.

Food prices continue to pressure Americans’ paychecks, but they eased some from the prior month and gains for grocery store items were offset by declines in gasoline, fuel oil, clothing, used cars and trucks, and transportation. Continue reading US Inflation in August Dips, Annual Inflation Rate at 1.7%