Doesn't peat moss increase soil acidity?

I am worrying about this too. But I am just hoping that the effect is
not that big -- I don't really know.

Or buffer it and use as seed starter.

I am very interested in this idea. What does "buffer it" mean? I am
planning to re-seed my lawn in this fall. I am wondering whether I can
spread it around in my lawn after I have put down grass seeds.

Jay Chan