Inflation Eased in August, Though Still High

214

Inflation cooled barely in August however remained robust, as a surge in Covid-19 infections slowed financial development and pandemic-related shortages of labor and provides continued to drive up costs.

The Labor Division stated final month’s consumer-price index rose a seasonally adjusted 0.3% in August from July, slower than the 0.5% one-month improve in July, and down markedly from June’s 0.9% tempo. Costs eased for autos, with used automobile costs dropping sharply, and lodge charges and airline fares declined in August from July.