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…”
Click here to read the full release at the Bureau of Labor Statistics.
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