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Consumer Prices Rise 0.4% in August as Gasoline Costs Accelerate
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U.S. consumer prices rose 0.4% in August, accelerating from a 0.1% gain in July as gasoline and other energy costs lifted household expenses, the Labor Department reported Friday.

The Consumer Price Index increased 3.4% over the 12 months through August, matching July’s annual pace. Excluding volatile food and energy components, core CPI rose 0.3% for the month, following a 0.2% increase in July. Core prices were up 2.4% from a year earlier, easing from a 2.5% annual increase in July.

Gasoline was the largest contributor to the August increase. The gasoline index climbed 3.9%, accounting for more than one-third of the monthly advance in the overall CPI. The broader energy index rose 2.1% during the month.

Over the past year, energy prices increased 16.3%, largely reflecting a 27.4% increase in gasoline prices. The sharp rise in fuel costs has been a principal source of renewed headline inflation pressure, even as the underlying inflation rate has moderated.

Shelter costs, a closely watched category because of their large weight in the CPI, rose 0.3% after a 0.1% increase in July. Food prices increased 0.1%, with food away from home rising 0.3%.

Other categories recording monthly gains included communication, lodging away from home, airline fares, education, and used cars and trucks.

The post Consumer Prices Rise 0.4% in August as Gasoline Costs Accelerate appeared first on Connect CRE.

Disclaimer:This article represents the opinion of the author only. It does not represent the opinion of Webull, nor should it be viewed as an indication that Webull either agrees with or confirms the truthfulness or accuracy of the information. It should not be considered as investment advice from Webull or anyone else, nor should it be used as the basis of any investment decision.
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