The US Bureau of Labor Statistics reported that the Consumer Price Index rose 0.4% in August on a seasonally adjusted basis, compared to 0.1% in July. Over the 12 months ending in August, prices increased by 3.4%, matching the annual rate recorded in July.
Gasoline prices were a primary factor in the monthly increase, rising 3.9% and contributing to more than one-third of the total CPI growth. Overall energy prices climbed 2.1% during the month, while shelter costs rose 0.3% and food prices increased 0.1%.
Core inflation, which excludes food and energy, rose 0.3% in August following a 0.2% increase in July. On an annual basis, core prices grew 2.4%, a slight decrease from the 2.5% recorded in July. Annual energy prices rose 16.3%, with gasoline up 27.4%.
In other sectors, airline fares increased 2.7%, communication costs rose 2.3%, and used vehicle prices climbed 0.4%. Conversely, medical care costs declined 0.2%, and motor vehicle insurance premiums fell 0.8% during the month.
