The August Consumer Price Index (CPI) report shocked the markets, as the leading benchmark indexes cratered following the inflation data.
Last month, the annual inflation rate slowed to 8.3 percent, down from 8.5 percent in July. The market had anticipated a rate of 8.1 percent.
Recent data from the Bureau of Labor Statistics (BLS) revealed that while Americans are seeing price reductions at the gas pump, they are not seeing the same relief in other areas such as grocery stores. Almost everything outside of the energy index is up across the board.
Meanwhile, the core inflation rate, which excludes volatile energy and food indexes, increased to 6.3 percent in August, up from 5.9 percent in the previous month and was the highest level since March….