Higher gas costs drive up US consumer prices

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) -- More expensive gas drove up consumer prices in August by the most in three years. But outside energy, inflation was tame.

The Labor Department says consumer prices rose a seasonally adjusted 0.6 percent last month, the first increase since March. Higher gas prices accounted for 80 percent of the increase. Food prices rose 0.2 percent.

In the past 12 months, prices have increased 1.7 percent. That's down from a peak of 3.9 percent in September 2011.

Excluding the volatile food and energy categories, core prices edged up 0.1 percent for the second straight month. Rents, medical care and new cars got more expensive, while clothing, furniture and airline fares fell in price.

Core consumer prices rose 1.9 percent in the past 12 months, the smallest annual increase in a year.


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Comments are posted from viewers like you and do not always reflect the views of this station.
  • by Szabla Location: Location on Sep 14, 2012 at 08:22 AM
    Why is inflation increasing, it wouldn't have anything to do with the FED, or increased Federal Government regulations stifling the US economy? Thank You Obama for putting us in this diminished economic state.
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