Consumer Price Index Increases 0.3% in August and 5.3% Year-Over-Year

The U.S. Bureau of Labor Statistics (BLS) reported on Tuesday (9-14-21) that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in August on a seasonally adjusted basis after rising 0.5% in July. Over the past 12-months, the all-item index has increased 5.3% before seasonal adjustment.

The food index increased 0.4% in August, and the food away from home index increased 0.4 %. The energy index increased 2.0% in August, as the gasoline index increased 2.8% and other energy component indexes also rose. The index for all items less food and energy rose 0.1% in August after increasing 0.3% in July. Along with shelter and new vehicles, the indexes for recreation, for medical care, and for personal care increased in August. The index for used cars and trucks declined -1.5% in August, ending five consecutive months of increases.

The all-items index rose 5.3% for the 12 months ending in August, a smaller increase than the 5.4% rise for the period ending in July. The index for all items less food and energy rose 4.0% over the last 12 months, also a smaller increase than the period ending in July. The energy index rose 25.0%, and the food index increased 3.7% for the 12 months ending in August; both were larger than the increases for the 12-month period ending in July.