The consumer price index rose 0.1% in August, and the 12-month rate of inflation dropped to 8.3% from 8.5% last month.
The closely-watched "core" measure of inflation that omits volatile food and energy also rose 0.6% in August, up from a 0.3% gain in the prior month. The 12-month rate rose to 6.3% from 5.9% last month.
Energy prices fell 5% for the month, led by a 10.6% slide in the gasoline index. However, those declines were offset by increases elsewhere.
The food index increased 0.8% in August and shelter costs, which make up about one-third of the weighting in the CPI, jumped 0.7% and are up 6.2% from a year ago.
Medical care services also showed a big increase, rising 0.8% on the month and up 5.6% from August 2021. New vehicle prices also rose, increasing 0.8% though used vehicles fell 0.1%.
Source: CNBC