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Bay Area inflation rate cools off as price gains approach normal pace

Bay Area inflation rate cools off as price gains approach normal pace

Consumer prices in the Bay Area cooled off in August and — while still rising — slowed to a near-normal pace for yearly increases in the inflation rate, the government reported Wednesday.

The Bay Area inflation rate rose 3.4% in August, the U.S. Bureau of Labor Statistics reported.

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That pace is similar to the 2% to 3% yearly increases in the Bay Area in times when consumer prices are rising at a typical rate.

The nationwide inflation rate was slightly more heated, rising at a yearly pace of 3.7% in August compared with the same month in 2022, the federal agency reported.