March 24, 2017

Consumer Prices Climb in August

Prices of all consumer goods rose .3% in August, including an increase of 3.9% in the cost of gasoline and a .2% increase in the cost of food. The last month that all consumer prices rose more than .3% was August of 2009, as the chart below shows. Price increases among the energy sector are largely responsible for the overall increase in consumer prices. Excluding energy increases, the category of consumer prices with the highest increase in August was used cars and trucks with an increase of .7%, according to a consumer report [.pdf] released today. Other prices increases include the cost of medical care, new vehicles, and fruits and vegetables.

In comparison to the past year, the last two months have seen considerable price increases.

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