U.S. Inflation Cooled in August Thanks to Lower Energy Prices

Falling oil and gasoline prices, along with the rest of the energy complex, helped to slow down the annual rate of inflation in August. According to AAA data, gasoline prices averaged $3.253 per gallon on Wednesday, down from $3.445 a month ago and $3.832 a year ago. According to Bureau of Labor Statistics data released Wednesday, the gasoline index declined 0.6% last month, compared to a rise of 0.1% in the prior month, with gas prices falling 10.3% on an annualized basis while the energy index dropped 4%. Consequently, falling energy prices have…