Tuesday, September 17, 2013

Consumer Prices Rose 0.1% in August

Consumer prices rose 0.1% in August, slower than expectations and below the previous two months gain. August’s weak report was due to the drop in energy prices. Prices are now 1.5% above year ago levels. Core CPI also increased 0.1%, below the previous three months, which each posted 0.2% gains. Despite data suggesting a steady economic recovery, consumer prices are still weak.

The energy index shrank in August, dipping 0.3%, due in part to a 0.1% drop in gasoline prices. Electricity and natural gas prices also declined.

Food prices rose 0.1%, the same as the previous month. As with the previous month, the gains in food prices were due to higher fruit and vegetable prices.

Read the BLS report.

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