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U.S. consumer prices grow faster in August

Staff Writer |
U.S. consumer prices grow faster in August, indicating that inflation pressure is building up.

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Consumer Price Index (CPI), a main gauge of inflation, went up 0.4 percent on a seasonally adjusted basis in August, compared to 0.1-percent growth in the previous month, said the Labor Department.

On a year-on-year basis, the index increased 1.9 percent, higher than the 1.7 percent growth in July.

Food index edged up 0.1 percent, compared to 0.2-percent growth in July. The energy index went up 2.8 percent in the month following a 0.1 percent fall in the previous month.

Excluding the volatile food and energy categories, the so-called core CPI went up 0.2 percent in August on a seasonally adjusted basis, slightly faster than the 0.1 percent increase in July.

On a year-on-year basis, the CPI was up 1.7 percent over the year, the same growth as in July.


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