Tuesday, September 16, 2008

The Age of Inflation

Consumer price index (cpi) for all urban consumers, 1947-2008. Source.

Government finds a small CPI decrease in August

The CPI decreased by 0.1% in August, due mostly to a sharp drop in energy costs. For the year, consumer prices are found to be 5.4% higher in August 2008 than in August 2007.

On a seasonally adjusted basis, the CPI-U decreased 0.1 percent in August, following a 0.8 percent increase in July. The index for energy fell 3.1 percent in August after three consecutive sharp increases. The gasoline index declined by 4.2 percent in August but is 35.6 percent higher than in August 2007. The index for household energy, which was up 3.8 percent in July, declined 1.6 percent in August. The food index advanced 0.6 percent in August after rising 0.9 percent in July. The index for food at home rose 0.8 percent in August after a 1.2 percent increase in July and is up 7.5 percent over the past year. The index for all items less food and energy increased 0.2 percent in August after increasing 0.3 percent in July.

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