The CPI for all urban consumers (CPI-U) rose by 0.1 per cent in August on a seasonally-adjusted basis after remaining unchanged in July, the US Bureau of Labour Statistics reported.

The monthly US consumer price index (CPI) increased at an annual pace of 8.3 per cent, US labor department’s recent CPI report showed. Though a steep decline in gasoline prices helped reduce inflation, costs for food, housing and autos continued to rise. Barring the food and energy sectors, core prices surged by 0.6 per cent from July to August.

The energy index fell by 5 per cent over August as the gasoline index declined, but the electricity and natural gas indices rose.

The energy index increased by 23.8 per cent for the 12 months ending August, a smaller increase than the 32.9-per cent increase for the period ending July.

Fibre2Fashion News Desk (DS)