The consumer price index rose 8.3% over the past year in August, a slight decrease from last month's 8.5%.
Bond prices also fell sharply, sending their yields higher, after a report showed inflation decelerated only to 8.3% in August, instead of the 8.1% economists expected.Stocks tumbled to their worst day in more than two years Tuesday, knocking the Dow Jones Industrial Average down more than 1,250 points, following Wall Street's humbling realization that inflation is not slowing as much as hoped.&P 500 sank 4.3%, its biggest drop since June 2020. The Dow fell 3.
Gas prices are down 10.6% since last month, but overall we are paying more for energy -- from electric to gas to natural gas -- costs are up 23.8% year-to-year. And food is also more expensive. It's up 11.4% year-to-year, the largest 12-month increase since May 1979.
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