Consumer prices post smaller than expected increase in August

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CNBC: Prices for an array of consumer goods rose less than expected in August in a sign that inflation may be starting to cool, the Labor Department reported Tuesday.

The consumer price index, which measures a basket of common products as well as various energy goods, increased 5.3% from a year ago and 0.3% from July. A month ago, prices rose 0.5% on the month.

Economists surveyed by Dow Jones had been expecting a 5.4% annual rise and 0.4% on the month.

Stripping out volatile food and energy prices, the CPI rose just 0.1% for the month vs. the 0.3% estimate, and 4% on the year against the expectation of 4.2%. Read More

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