Inflation rose at 0.1 percent in August, against the market’s expectation of a 0.1 percent drop. For the year, inflation is up 8.3 percent since August 2021, which is a slight decline from the June record of 9.3 percent and the July 8.5 percent. 

Food inflation was up 0.8 percent on the month – the eighth consecutive monthly increase. On a year-over-year basis, food was up 11.4 percent, the largest 12-month increase since May of 1979.  Food at home was up 13.5 percent year-over-year, while food away from home was up 8 percent. 

Fats and oils and sugars and sweets lead the increases in the food at home category; meats and poultry decreased from previous highs. 

In the protein category, there wer...