Consumer Price Index Moves Higher in August
The Bureau of Labor Statistics (BLS) is reporting that the Consumer Price Index (CPI) and the ‘core’ CPI both continued to increase in August. The CPI rose by 0.4% in August on a seasonally
adjusted basis, slower than a 0.6% increase in July. Excluding the volatile food and energy components, “core” CPI rose by 0.4% in August, after an increase of 0.6% in July. The August increase in the seasonally adjusted all items index was all-encompassing.
The indexes for shelter (0.1%), recreation (0.7%), household furnishings and operations (0.9%), apparel (0.6%), motor vehicle insurance (0.5%), and airline fares (1.2%) all rose. The index for used cars and trucks rose by 5.4% in August, accounted for over
40% of the increase in the “core” CPI. Meanwhile, the indexes for education (-0.3%) and personal care (-0.3%) declined in August. During the past twelve months, on a not seasonally adjusted basis, the CPI rose by 1.3% in August, following a 1.0% increase in
July. Meanwhile, the “core” CPI increased by 1.7% over the past twelve months, after a 1.6% increase in July. The food index rose by 4.1% and the energy index declined by 9.0% over the past twelve months.
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