(RTTNews) - A highly anticipated report released by the Labor Department on Tuesday showed a modest increase in U.S. consumer prices in the month of August. "We believe the annual rate peaked in June as the strong base effects are subsiding and wholesale price increases for used car and trucks have moderated greatly," said Kathy Bostjancic, Chief U.S. Financial Economist at Oxford Economics. She added, "That said, price increases stemming from the ongoing supply chain bottlenecks amid strong demand will keep the rate of inflation elevated and sticky as supply/demand imbalances are only gradually resolved."