Consumer Price Index Up 0.4% in August, 2020
The U.S. Bureau of Labor Statistics is reporting that the Consumer Price Index for All Urban Consumers (CPI-U) increased 0.4% in August. Interestingly, they point out that the index’s sharp rise for used cars and trucks accounted for over 40% of the increase. Over the past 12 months, the all items index has increased 1.3% before seasonal adjustment.
“The monthly increase in the seasonally adjusted all items index was broad-based; a sharp rise in the used cars and trucks index was the largest factor, but the indexes for gasoline, shelter, recreation, and household furnishings and operations also contributed…”