Consumer Prices Up 2.7 Percent Annually

The Consumer Price Index rose 0.2 percent in August on a seasonally adjusted basis, according to U.S. Bureau of Labor Statistics. This followed a 0.2 percent July increase. Over the last 12 months, the all-items index rose 2.7 percent, a dip from last month’s 2.9 percent increase.

Prices for all items less food and energy, the “core CPI,” grew 0.1 percent in August, following a 0.2 percent July increase. The index rose 2.2 percent for the 12 months ending in August, down 0.2 percentage points from July’s increase.

The food index rose 0.1 percent in August. Prices for food at home were unchanged while food away from home grew 0.2 percent. Over the past 12 months, food prices are up 1.4 percent.

The energy index increased 1.9 percent in August after a 0.5 percent decrease in July. Gasoline prices increased, rising 3.0 percent. The energy index rose 10.2 percent in the last twelve months.

Read the BLS release.

About Jack McCabe

Jack McCabe is a research associate in the Economic Policy and Research group at the ABA.
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