US CPI rose 0.2% mom in August, matched expectations. However, core CPI rose 0.3% mom, above expectation of 0.2% mom. Shelter costs jumped 0.5% mom and was the main factor in the all items increase. Food index rose 0.1% mom while energy index fell -0.8% mom.
Over the 12-month period, CPI slowed from 2.9% yoy to 2.5% yoy, below expectation of 2.6% yoy. That’s also the lowest annual increase since February 2021. But core CPI was unchanged at 3.2% yoy, matched expectations. Energy index fell -4.0% yoy while food prices rose 2.1% yoy.
