The Bureau of Labor Statistics (BLS) announced that the U.S. consumer price index (CPI) increased 8.3% year over year in August 2022, remaining uncomfortably rapid for the month. The CPI didn't ease as much as expected by economists, putting continued inflation-related financial pressure on consumers.

The "core" CPI, which strips out the unpredictable food and energy components, accelerated more than expected. Prices rose 6.3% over last year and 0.6% over the prior month in August. The expectations were for a 6.1% annual increase and a 0.3% monthly increase in core CPI.

According to the BLS, inflationary pressures remained strong across other components of the monthly report. Significant shelter, food and medical care costs offset declining gas and energy prices.

What's Next?

The Federal Reserve (Fed) has been raising interest rates to slow the economy and attempt to tame rapid inflation. However, August's CPI is a sign that price increases aren't under control yet and that further aggressive action may be needed. The Fed will meet again later this month.

Only time will tell if inflation will cool down, but economists warn that interest rates will likely continue to rise. Many American workers report that they—and their friends and family—are struggling financially. Inflation erodes spending power and can make it harder to find a job. It could also mean the cost of debt will increase for credit cards, automobile financing and personal loans.

Discussing financial and investment goals with a financial advisor can be helpful. If you have additional questions or need resources for financial assistance, speak to your employer.

For more inflation trends, contact INSURICA today.

This is not intended to be exhaustive nor should any discussion or opinions be construed as legal advice. Readers should contact legal counsel or an insurance professional for appropriate advice. © 2022 Zywave, Inc. All rights reserved.

About the Author

INSURICA
INSURICA

Share This Story

Stay Updated

Subscribe to the INSURICA blog and receive the latest news direct to your inbox.

Related Blogs

Making an Acquisition? Why the EMOD Shouldn’t Be Overlooked

August 18th, 2025|Blog, Construction, southwest, Trending|

When acquiring another company, there’s no shortage of factors to consider. From valuing physical assets to estimating potential synergies, the due diligence process can be complex. However, one critical element often overlooked is the EMOD.

2026 Employer Mandate Update

August 14th, 2025|Blog, Employee Benefits, Trending|

In July 2025, the IRS released new guidance increasing both the affordability percentage and penalty amounts under the Affordable Care Act’s employer mandate for the 2026 plan year. These changes will affect how Applicable Large Employers (ALEs) determine affordability and assess compliance risk moving into the next benefits cycle.

Facility Rental: Best Practices for Non-School Use

August 13th, 2025|Blog, Education|

As community hubs, school districts often open their doors to outside organizations for events, activities, and gatherings. This facility rental for non-school use can benefit the community, but it also comes with potential risks. School administrators must take proactive steps to protect district property, reduce liability exposure, and ensure compliance with state laws.

Go to Top