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US consumer price inflation slowed in August, rising just 0.3 percent compared to the month prior while the annual rate eased to 5.3 percent, according to government data released Tuesday.
Rising gasoline prices remain a key driver of the consumer price index (CPI), but excluding volatile food and energy prices, CPI rose just 0.1 percent -- its smallest increase since February -- and gained four percent for the past 12 months, the Labor Department reported.
