US con­sumer prices pick up in Au­gust

The Myanmar Times - - International Business -

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. –

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