US inflation remains stubbornly high despite August slowdown | Economy

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WASHINGTON (AP) — Falling gas costs slowed U.S. inflation for a second consecutive month in August, but most other prices in the economy continued to rise — proof that inflation remains a heavy burden for American households.

Consumer prices rose 8.3% from a year earlier and 0.1% from July. But the jump in “core” prices, which exclude volatile food and energy costs, was particularly worrisome. It beat expectations and raised fears that the Federal Reserve could raise interest rates more aggressively and increase the risk of a recession.

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