US consumer price index in August was lower than expected!

According to foreign media reports, the U.S. Department of Labor announced on Tuesday that the price increase of a series of consumer goods in August was lower than expected, indicating that inflation may begin to cool down . However, some American professionals disagree. Data showed that the consumer price index ( CPI) measuring ordinary products and various energy products rose 5.3% from the same period last year and 0.3% from July.

Economists had previously predicted that the annual growth rate of US CPI would reach 5.4% this year, and the forecast in August was 0.4%. However, the actual data showed that the growth was lower than market expectations. At the same time, the report showed that excluding volatile food and energy prices, CPI rose only 0.1% this month , lower than the expected 0.3%, and rose 4% year-on-year, lower than the expected 4.2%.

The report also said that the annual growth rate of 5.3% still keeps the US inflation rate at its highest level in nearly 13 years . But based on the data shown in August , its growth rate may be slowing .

  Energy prices accounted for a large part of the increase in inflation in August, with the composite index up 2% and gasoline prices up 2.8%. Food prices rose 0.4%. Energy is up 25% from a year ago, with gasoline soaring 42% during that period . However, the report said the main factor driving inflation was the automotive industry.

The report said that Fed officials have been paying close attention to the issue of inflation . They believe that this year's inflation is only temporary and will gradually subside due to various factors. In the view of these U.S. officials, supply chain bottlenecks, shortages of key products such as semiconductors, and increased demand for commodities related to the epidemic are important factors for inflation to subside, and these factors are expected to return to normal levels in the coming period .

According to the survey, affected by inflation in the United States, American consumers may show a conservative tendency in the coming peak sales season. However, this does not mean that American consumers' consumption enthusiasm and purchasing power will decline. Epidemic prevention products, home furnishing products, etc. will remain temporarily stable. And with the arrival of the peak season, the sales of other festive products will continue to grow. 78 % of the respondents have said that they will still choose online shopping , and Amazon is still their preferred shopping website, and the popularity of online shopping has not diminished.

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