Here’s the inflation breakdown for August 2024 — in one chart
Inflation continued to throttle back in August, signaling that the fast-rising prices that plagued the U.S. economy for the better part of three years during the pandemic era are increasingly moving into the rearview mirror.
Overall inflationary pressures are “dissipating,” said Sarah House, senior economist at Wells Fargo Economics.
The consumer price index — which measures how fast prices are changing across the U.S. economy — rose 2.5% in August from a year ago, the U.S. Department of Labor reported Wednesday.
That figure is down from 2.9% in July and is the lowest reading since February 2021.