(NEXSTAR) – While the latest numbers show an easing in some measures of inflation – despite a spike in gas prices – some cities have seen larger increases than others over the past year, according to Labor Department data released Wednesday.
The consumer price index was up 3.7% in August over the previous year, an increase from the 3.2% annual pace in July. However, when adjusted to filter out more volatile categories such as food and energy, inflation growth actually slowed from 4.7% in July to 4.3% in August, year-over-year.
This slowing of so-called “core” prices suggests that inflation is coming under control, but at a more gradual pace than the government had hoped as officials try to reach the Federal Reserve’s target of 2%.
“We’re getting to the stage where we’ve basically had all the low-hanging fruit in terms of disinflation,” said Blerina Uruci, an economist at T. Rowe …