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Consumer prices fall in August

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Consumer prices fall in August

Decline is first in 7 months.

Largely driven by plunging energy costs, the Consumer Prices Index decreased on a seasonally adjusted basis by 0.1% in August, according to the U.S. Bureau of Labor Statistics. This follows a 0.1% increase in July.

Analysts had expected the CPI to remain flat.

Over the last 12 months, the index has risen 0.2%.

The index for all items less food and energy, known as “core” CPI, increased 0.1%, following a similar increase in July.
Core CPI has increased 1.8% over the last 12 months.
The decrease in consumer prices may give the Fed pause in its expected plan to raise interest rates this fall.  

 

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