Consumer prices increase slightly in August
“Core” consumer prices increased 0.3% during the month.
The Consumer Prices Index on a seasonally adjusted basis rose slightly at 0.2% in August, according to the U.S. Bureau of Labor Statistics, after remaining flat in July.
The CPI has increased 1.1% over the last twelve months.
Analysts had expected the CPI to increase 0.1% during the month.
The index for all items less food and energy, known as “core” CPI, increased 0.3%, after a 0.1% increase in July.
Core CPI has increased 2.3% over the last 12 months.
The lack of price inflation, combined with various economic indicators suggesting a sluggish US economy, will most likely temper the Federal Reserve Board’s aggressiveness in raising interest rates during the remainder of 2016, despite tightening labor markets.
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