(BLS) US Consumer Price Index rose by 0.3% in August from July, a lower increase compared to expected 0.4% gain. On a year over year basis, consumer prices were up 5.3%, lower than expected 5.4%.
Fig: US Monthly CPI-U
Eliminating volatile food and energy, consumer prices increased by only 0.1% from July, below estimated 0.3% gain.
The energy index was up 2% from July while gasoline prices surged 2.8% over the same period. Compared to prior year, energy was up 25% while gasoline had increased by 42%.
The food index was up 0.4% from July. Indexes for food at home and away from home rose by a similar percentage. The food index was up 3.7% over the past 12 months.
The index for used cars and trucks shed 1.5% in August, but remained 31.9% higher compared to prior year. Transportation services shed 2.3% in August from July.
Markets react. SPY is up +0.33% on premarket, DXY is down -0.29%
