US inflation showed better than expected numbers

Consumer prices in the US showed better that expected numbers in August, which is to indicate that inflation is getting closer to Federal Reserve’s target.

The consumer price index CPI in the country rose in August by 0.2% on a monthly basis with expectations for an increase of 0.1%, having in mind that in July remained at the level of the previous month, or 0.0%.

Major influence over the stronger than forecast increase in inflation appears to be the sharp increase of 0.9% in prices for medical services.

In August the US inflation accelerated on annual basis in August to 1.1 percent from 0.8 percent in July amid the expectations for an increase of 1%.

At the same time the main CPI index excluding the food and energy prices marked an increase of 0.3% , as on an annual basis rose by 2.3% amid the expectations of keeping the pace of growth from July with 2.2 %.