US annual inflation dipped in August

WASHINGTON, D.C.: US annual inflation slowed slightly in August, largely thanks to falling gasoline prices — but likely not enough to satisfy the Federal Reserve (Fed) and President Joe Biden as high prices continue inflicting pain on Americans.

The consumer price index (CPI), a key measure of inflation, actually rose 0.1 percent in August compared to July, when prices were flat, the Labor Department said Tuesday (Wednesday in Manila), a disappointing result amid widespread expectations that inflation would fall in the month.