(CNBC) Inflation in August declined to its lowest level since February 2021, according to a Labor Department report Wednesday that also showed a key measure higher than expected, setting the stage for an expected quarter percentage point rate cut from the Federal Reserve. The consumer price index, a broad measure of goods and services costs across the U.S. economy, increased 0.2% for the month.
Consumer prices rose 0.2% in August as annual inflation rate hits lowest since early 2021
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