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Consumer prices plunge in August

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Consumer prices plunge in August

Decline of 0.2% first in nearly a year and a half.

The Consumer Price Index decreased 0.2% in August on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported today. Over the last 12 months, the all items index increased 1.7% before seasonal adjustment.

Analysts had expected a flat CPI for August.

Energy prices fell for the second month in a row. Gasoline prices fell 4.1% percent last month after declining 0.3% in July.

Food prices increased 0.2% after rising 0.4% in July.

The index for all items less food and energy, known as “core” CPI, was flat after rising 0.1% in July.

Core CPI has increased 1.7% over the last 12 months.

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