Core CPI Remains Unchanged

The Consumer Price Index (CPI) rose by 0.3% in August, matching its July rise. In June the CPI was down 0.1% and year over year it is up just 1.1%. Almost all of the increase was due to energy prices, which rose 2.3% on top of a 2.6% increase in July, but after a 2.9% decline in June.

Year over year, energy prices are up 3.8%. Actually the increase is even narrower than that, as energy commodities such as gasoline were up 3.8% on the month, on top of a 4.0% rise in July but after a 4.1% fall in June. Energy service prices, like electricity and piped gas service increased just 0.4% after being up 0.8% in July and down 2.1% in June. Food prices were relatively well-behaved, rising 0.2% for the month after falling 0.1% in July and being unchanged in June. Year over year, food prices are up 1.0%.

CPI Decline Is Biggest Since 1950

Consumer prices fell 1.3% for the year, the largest annual drop since 1950, government says. Prices rose slightly in May.

CPI fell 0.1% in March

Year over year, consumer prices fell 0.4%, the first annual decline since August 1955.