CPI Up 0.4 Percent July To August
September 15, 2011 by UPI - United Press International, Inc.
WASHINGTON, Sept. 15 (UPI) — The Consumer Price Index rose a seasonally adjusted 0.4 percent in August while the core rate rose 0.2 percent, the U.S. Labor Department said Thursday.
The index has risen 3.8 percent in the last 12 months before the seasonal adjustment, the department’s Bureau of Labor Statistics said in a release. That is sightly higher than the 3.6 percent annual rate in July and the consensus expectation for August, which was also 3.6 percent.
The core inflation figure, which excludes food and energy, rose 2 percent on an annual basis in August. From July, core prices rose 0.2 percent.
Food prices were up 0.5 percent month-to-month and 4.6 percent on a 12-month basis. Energy prices from July to August rose 1.2 percent after falling 1 percent 1 percent April to May and 4.4 percent May to June.
Energy prices turned higher in the previous report, climbing 2.8 percent June to July. In the current report covering July to August, energy prices rose a modest 1.2 percent.
The gasoline index followed a similar pattern, falling 2 percent in May and 6.8 percent in June. In July, gas prices rose 4.7 percent. In the current report, gasoline prices rose a more modest 1.9 percent.