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Gasoline prices drove more than a third of the monthly increase, while core inflation ticked up to 0.3%
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The Consumer Price Index rose 0.4% in August on a seasonally adjusted basis, the Bureau of Labor Statistics reported Friday, up from a 0.1% increase in July. Over the past 12 months, the all-items index increased 3.4%, matching the annual rate recorded through July.
Gasoline prices led the monthly increase, rising 3.9% and accounting for more than one third of the overall gain. The energy index increased 2.1% for the month after falling 1.5% in July. Over the past year, energy prices climbed 16.3%, with gasoline up 27.4%.
