Persistent Inflation Shocked The Markets—Here’s What’s Rising the Most

A cashier processes a customer's order in a Kroger grocery store in Houston, Texas, on July 15, 2002. Brandon Bell/Getty Images

The August Consumer Price Index (CPI) report shocked the markets, as the leading benchmark indexes cratered following the inflation data.

Last month, the annual inflation rate slowed to 8.3 percent, down from 8.5 percent in July. The market had anticipated a rate of 8.1 percent.