By Nick Dobbins
The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.3% in August on a seasonally adjusted basis after rising 0.5% in July, the U.S. Bureau of Labor Statistics reported. The indices for gasoline, household furnishings and operations, food, and shelter all rose and contributed to the monthly increase. The energy index increased 2.0%, mainly from a 2.8% increase in the gasoline index. The index for food rose 0.4%, with the indices for food at home and food away from home both increasing 0.4%. The index for all items less food and energy rose 0.1% in August, its smallest increase since February 2021. Along with the indices for household operations and shelter, the indices for new vehicles, recreation, and medical care also rose. The indices for airline fares, used cars and trucks, and motor vehicle insurance all declined over the month.
The all items index rose 5.3% for the 12 months ending August, a smaller increase than the 5.4% rise for the period ending July. The index for all items less food and energy rose 4.0%, also a smaller increase than the period ending July. The energy index rose 25.0%, and the food index increased 3.7%; both were larger than the increases for the 12-month period ending July.