Consumer prices up slightly in August in measure of slowing inflation

0

Sept. 14 (UPI) — A gauge that measures consumer prices in the United States rose slightly during the month of August in a signal that rising inflation may be leveling out, the Labor Department said in a report Tuesday.

The Consumer Price Index increased by 0.3% from July to August and 5.3% over August 2020. Most experts had expected the increase to be greater.

Consumer prices had risen by 0.5% from June to July.

When excluding food and energy, prices increased by 0.1%, the smallest rise in six months.

Tuesday’s figures indicate, some experts say, that U.S. inflation may be cooling after rising over the past several months.

The Bank of America Fund Manager Survey for September showed that many analysts believe inflation will start to decline over the next year.

“Along with the indexes for household operations and shelter, the indexes for new vehicles, recreation and medical care also rose in August,” the Labor Department said in a statement. “The indexes for airline fares, used cars and trucks, and motor vehicle insurance all declined over the month.”

Gasoline, often the main driver of the total index, increased by 2.8% and food rose by 0.4%.

Last week, the Labor Department said producer prices in the United States were up 0.7% in August. Year-to-year, it was up 8.3%, the largest annual gain since 2010.

FOLLOW US ON GOOGLE NEWS

 

Read original article here

Denial of responsibility! Vigour Times is an automatic aggregator of the all world’s media. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials, please contact us by email – [email protected]. The content will be deleted within 24 hours.

Comments
Loading...