Urban American consumers are paying more for good and services while more are out of work, according to the U.S. Bureau of Labor Statistics.

The consumer price index was expected to increase 0.3% in August, according to the Dow Jones consensus estimate.

Urban American consumers are paying more for good and services while more are out of work, according to the U.S. Bureau of Labor Statistics.

The consumer price index picked up to 2.9 per cent in August, accelerating from 2.7 per cent on a year-on-year basis in July.