Consumer Prices Have Risen Solidly Since June, But Gains Are Healthy Given Pre-Pandemic Inflation Weakness
Washington, D.C. (PPD) — The Consumer Price Index (CPI) rose a seasonally-adjusted 0.4% in August after gaining 0.6% in July and June, the U.S. Bureau of Labor Statistics reported. Consumer prices have now risen 1.3% year-over-year, also on a seasonally-adjusted basis.
Forecasts for the headline monthly percentage change for the CPI ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.3%. Forecasts for the annual percentage change ranged from a low of 1.1% to a high of 1.4%. The consensus forecast was 1.2%.
The CPI for all items less food and energy rose sharply by 0.4% in August after rising 0.6% in July. Used cars and trucks accounted for over 40% of the increase. Forecasts ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.2%.
The CPI for all items less food and energy has risen 1.7% year-over-year. Forecasts ranged from a low of 1.5% to a high of 1.7%. The consensus forecast was 1.6%.
