CPI Fell in August as Energy Prices Decline

The Consumer Price Index decreased 0.1 percent in August. The decline was largely due to a sharp decline in the gasoline index. The index rose 0.2 percent over the last 12 months.

The energy index declined 2.0 percent in August after posting gains for three consecutive months. Both the fuel oil and gasoline indices declined sharply, falling by 8.1 and 4.1 percent respectively, while the electricity index posted a 0.3 percent gain. On the year, energy prices have fallen 15.0 percent.

Prices for non-food and energy items increased 0.1 percent, the same rate as in July. The increase was tied to a 0.2 percent gain in the price of shelter, as rent prices rose by 0.3 percent. The indices for apparel and medical care also rose 0.3 percent each. Several indices posted declines for the month. Airline fares fell 3.1 percent after falling 5.6 percent in July, and the index for used cars and trucks decreased by 0.4 percent.

Food prices increased 0.2 percent, as the index for food at home and away from home advanced 0.3 and 0.2 percent. The index for eggs continued to rise in August, growing by 7.7 percent, even as the index for dairy and related products posted a decline. Over the course of the year, the eggs index increased by 35.3 percent.

Read the BLS release.