Inflation 2024 live updates — August rate revealed – what it means for your grocery bill

THE US Bureau of Labor Statistics released the August consumer price index (CPI) on Wednesday morning.

The Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.2% on a seasonally adjusted basis, matching the increase seen in July, the US Bureau of Labor Statistics announced today.

Over the past 12 months, the all-items index increased by 2.5% before seasonal adjustment, marking the smallest 12-month rise since February 2021.

Over the past year, the core index, excluding food and energy, rose by 3.2 percent, while the energy index dropped 4.0%.

The food index increased by 2.1% for the 12 months ending in August.