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Sunday, September 27, 2020
HomeNewsEconomyConsumer Price Index (CPI) Beats Forecasts, Gaining 0.4% in August and 1.3% Year-Over-Year

Consumer Price Index (CPI) Beats Forecasts, Gaining 0.4% in August and 1.3% Year-Over-Year

Consumer Price Index (CPI) graphic concept. (Photo: AdobeStock)

Consumer Prices Have Risen Solidly Since June, But Gains Are Healthy Given Pre-Pandemic Inflation Weakness

Consumer Price Index (CPI) graphic concept. (Photo: AdobeStock)
Consumer Price Index (CPI) graphic concept. (Photo: AdobeStock)

Washington, D.C. (PPD) — The Consumer Price Index (CPI) rose a seasonally-adjusted 0.4% in August after gaining 0.6% in July and June, the U.S. Bureau of Labor Statistics reported. Consumer prices have now risen 1.3% year-over-year, also on a seasonally-adjusted basis.

Forecasts for the headline monthly percentage change for the CPI ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.3%. Forecasts for the annual percentage change ranged from a low of 1.1% to a high of 1.4%. The consensus forecast was 1.2%.

The CPI for all items less food and energy rose sharply by 0.4% in August after rising 0.6% in July. Used cars and trucks accounted for over 40% of the increase. Forecasts ranged from a low of 0.1% to a high of 0.4%. The consensus forecast was 0.2%.

The CPI for all items less food and energy has risen 1.7% year-over-year. Forecasts ranged from a low of 1.5% to a high of 1.7%. The consensus forecast was 1.6%.

Written by
Staff Writing Group

PPD Business, the economy-reporting arm of People's Pundit Daily, is "making sense of current events." We are a no-holds barred, news reporting pundit of, by, and for the people.

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