Inflation in the United States eased slightly to 8.3% in August on a yearly basis from 8.5% in the previous month. The figure was higher than expected, pointing to a decline to 8.1%.

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1% on a seasonally adjusted basis in August after being constant in July, according to the U.S. Bureau of Labor Statistics. Before seasonal adjustment, the all items index grew 8.3% over the last 12 months.

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The rise in shelter, food, and medical care indexes was the biggest of many contributors to the broad-based monthly all items increase. These gains were primarily offset by a 10.6% drop in the gasoline index. The food index increased 0.8% during the month, while the food at home index increased 0.7%. Over the month, the energy index dipped 5.0% as the gasoline index fell, while the electricity and natural gas indexes rose.

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In August, the index for all items except food and energy gained 0.6%, a bigger increase than in July. Among those that grew during the month were the indexes for shelter, medical treatment, household furnishings and operations, new vehicles, motor vehicle insurance, and education. In August, numerous indices fell, including those for airline fares, communication, and used cars and trucks.

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The all-items index grew 8.3% in the 12 months ended August, less than the 8.5% gain in the period ended July. Over the last 12 months, the index of all items excluding food and energy increased by 6.3%. The energy index grew 23.8% in the year ended August, less than the 32.9% increase in the period ended July. The food index grew 11.4% over the last year, the highest 12-month rise since May 1979.

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Fed Governor Chris Waller stated last week that he favours “another significant increase,” while St. Louis Fed President James Bullard outlined that he is tilting “more strongly toward” a big move when policymakers meet on September 20-21.

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So far this year, both have been solid predictors of where the Fed’s policies will go. Their comments came on the heels of hawkish remarks from other policymakers earlier this month, led by Chair Jerome Powell, who hinted at a third consecutive 75 basis-point hike. Powell earlier said that the decision would be between that and a half-point rise, based on the data.