Consumers Just Got Some Bad News About Inflation -- but Social Security Recipients Might Benefit From It
Inflation has been wreaking havoc on consumers for well over a year now. But given the notable drop in gas prices drivers benefited from last month, economists were hopeful that overall inflation levels would decline in August.
That didn't happen, though. The U.S. Bureau of Labor Statistics just released August data for the Consumer Price Index (CPI), which measures changes in the cost of consumer goods, and its report showed that inflation rose 0.1% on a seasonally adjusted basis. On an annual basis, the CPI rose 8.3%.
Of course, regardless of the CPI's reading, the reality is that consumers are facing sky-high living costs just about everywhere they turn. In fact, a big reason the CPI rose in August was that higher food and housing costs offset a notable decline in gas prices.
Source Fool.com
