US Inflation saw a second consecutive decrease in its year-over-year price inflation, reaching an 8.3% inflation for August 2022. This is despite having the largest recorded increase since 1979 (13.5%) for the food index. As for changes in comparison to the previous month, there was a 0.1% increase reflected in the consumer price index. Said increase reflects changes in volatile categories such as energy costs, which went from a 325.407 index to 305.372, and Food costs, which went from a 308.532 index in July 2022 to a 310.875 index in August 2022.
Overall yearly inflation seems to be easing off after reaching its highest figure in the past 40 years in June 2022. Nevertheless, the 0.1% month-based showed in August 2022, signals a return to inflation growth which was not seen in July. Moreover, an 8.3% year-based inflation is still an important factor for the federal reserve to assess, as it will still take a substantial toll on the average American citizen’s and household’s pockets.
