- Consumer prices in August rose 5.3% from a year ago and 0.3% from July, the Labor Department reported Tuesday.
- Both totals were slightly below market expectations, sending stock futures higher.
- Stripping out food and energy, the consumer price index was up just 0.1% for the month.
Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday.
The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year earlier and 0.3% from July. A month ago, prices rose 0.5% from June.
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