United States Core Inflation Rate

The annual core consumer price inflation rate in the United States, which excludes volatile items such as food and energy, fell to 4.3% in August 2023, the lowest since September 2021, from 4.7% in the prior month, matching market expectations. Prices slowed down for shelter (7.3% vs 7.7% in July), recreation (3.5% vs 4.1%), apparel (3.1% vs 3.2%) and new vehicles (2.9% vs 3.5%). Moreover, decreases were seen for used cars and trucks (-6.6% vs -5.6%) and medical care services (-2.1% vs -1.5%). On a monthly basis, core consumer prices rose by 0.3% from a month earlier in August, up from a 0.2% increase in July and slightly above market consensus of a 0.2% rise.