New Mission, New Website coming soon! Learn more now.

Equities logo
Search
Close this search box.

Consumer Prices Rose 0.4% in August; Energy Prices Moderated After Early Summer Gains

The slowdown in August inflation reflected moderation in energy costs, which were up 0.9% last month following gains of 5.1% n June and 2.5% in July.
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Our teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. We provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.
The Associated Press is an independent, not-for-profit news cooperative headquartered in New York City. Our teams in over 100 countries tell the world’s stories, from breaking news to investigative reporting. We provide content and services to help engage audiences worldwide, working with companies of all types, from broadcasters to brands.

Image source: Sunyu Kim / Unsplash

By Martin Crutsinger

WASHINGTON (AP) — U.S. consumer prices rose 0.4% in August as energy prices moderated after big gains in the previous two months.

The Labor Department reported Friday that the August increase in the consumer price index followed a 0.6% jump in both July and June as prices rebounded following the virus-related shutdowns in earlier months.

The slowdown in August inflation reflected moderation in energy costs, which were up 0.9% last month following gains of 5.1% n June and 2.5% in July.

Food costs edged up a modest 0.1% in August after having fallen 0.4% in July.

The report painted a picture of continued moderation in inflation with prices up just 1.3% from a year ago. Core inflation, which excludes the volatile food and energy components, rose 0.4% in August and 1.7% over the past 12 months.

_____

Source: AP News

Equities short logo
Equities short logo