Loading articles...

US consumer prices up slight 0.1% in August

WASHINGTON — Consumer prices slowed in August, rising by a slight 0.1%, reflecting a big drop in the cost of gasoline and other energy products.

The Labor Department says the tiny increase in its consumer price index followed a much bigger 0.3% rise in July which had been driven by a jump in energy prices. With energy costs falling in August for a third month out of the past four, the overall price increase slowed leaving consumer prices rising a modest 1.7% over the past year.

Core inflation, which excludes volatile food and energy costs, rose 0.3% last month and 2.4% over the past year.

The Federal Reserve has worried that inflation has been rising too slowly, citing this issue as one of the reasons it cut interest rates in July.

Martin Crutsinger And Bani Sapra, The Associated Press

Join the conversation

Please read our commenting policies

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Latest Traffic & Weather
680 NEWS TRAFFIC @680NEWStraffic 680 News Traffic Twitter verified icon
Updated Just moments ago
Clear.
Latest Traffic
680 NEWS WEATHER @680NEWSweather 
Updated Today at 01:01 PM
Fall officially begins at 3:50am this Monday September 23rd. AKA the #AutumnalEquinox, when the length of day and n…
Latest Weather