US consumer prices pick up in August
US consumer price rises picked up in August after a flat July, but continued to deliver a picture of inflation weaker than the Federal Reserve has targeted, the Labor Department reported.
The consumer price index added 0.2 percent month-over-month, and was up 1.1pc over 12 months, with food and fuel prices lower in both cases.
That figure was stronger than July’s flat CPI month-onmonth and 0.8pc gain from a year ago.
Core CPI, stripping out food and fuel, both volatile product groups, was stronger: up 0.3pc in the month and 2.3pc over a year ago.
Among core components, healthcare goods costs were sharply higher, up 4.5pc over a year, and housing was also rising quickly, up 3.4pc. –