Consumer prices rise 0.3 percent in August,

U.S. consumer prices rose a lower-than-expected 0.3 percent last month, the smallest monthly increase in seven months and a hopeful sign that inflation pressures may be cooling. The Labor Department reported Tuesday that the August gain was down from a 0.5 percent increase in July and a 0.9 percent surge in June. It was the smallest increase since a similar 0.3 percent rise in January. The August slowdown in prices was seen as offering hope that Americans were finally starting to see some relief from a price surge earlier in the year.