US consumer prices rise 0.2% in August

 US consumer prices rise 0.2% in August

Mubasher: The US consumer price index (CPI) witnessed a 0.2% month-on-month hike in August, the same increase of a month earlier, according to official data on Thursday.

Over the last 12 months, CPI went up 2.7% last month before seasonal adjustment, compared to a 2.9% increase for the 12 months ended 31 July, the US Bureau of Labor Statistics said.

Shelter and energy were the largest contributors to the overall CPI rise, adding 1.9% and 0.3%, respectively, in the previous month, it added.

As for the food index, it inched up 0.1% over the last month, the lowest growth since April, while the index for food at home remained unchanged.

The indexes for airline fares, used cars and trucks were amongst the increased ones in August.

Meanwhile, other indexes witnessed a drop including the medical care, communication, recreation, and personal care, official data showed.

By 01:34 pm GMT, the US dollar index inched down 0.01% to 94.7920.  

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Source: Mubasher