US inflation falls to its lowest level in over three years

Inflation in the US continued to cool last month, official figures showed, raising confidence that the US central bank will cut interest rates next week.Consumer prices rose 2.5% over the 12 months to August, as prices for petrol, used cars and trucks, and some other items fell.That marked the slowest pace since February 2021 and was down from 2.9% in July, despite an unexpected rise in housing costs.The Labor…