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Inflation is cooling off but the price of housing among other essential items remains high. (Photo by Spencer Platt/Getty Images)Inflation hit a three-year low last month, just as the presidential election is heating up.But the high cost of housing and other necessities will keep the economy central to both of the major campaigns, as seen this week in the first debate between Kamala Harris and Donald Trump.The Consumer Price Index, a measure of inflation, rose 2.5% in the past year, which is the smallest jump since February 2021, according to the latest Bureau of Labor Statistics data released Wednesday. The main driver of this increase was shelter, which moved up 0.5% in August. Airline fares, car insurance, education, and apparel also rose that month. But wages also rose 0.4% in August and 3.8% over the past year, and the average workweek increased by 0.1 hour — welcome news for worke …
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