US inflation numbers met market expectations by maintaining a downward trend in August, supporting predictions for a cycle of gradual decline for the rest of the year.
The CPI index rose 2.5% in August year-over-year the lowest rise in 42 months, according to the Bureau of Labor Statistics.
“The index for shelter rose 0.5% in August and was the main factor in the all items increase,” noted the Bureau of Labor statistics. “ The food index increased 0.1% in August, after rising 0.2 percent in July. The index for food away from home rose 0.% over the month, while the index for food at home was unchanged. The energy index fell 0.8% over the month, after being unchanged the preceding month.”
Notable is a 0.8% decrease in the energy index after being unchanged in July with the gasoline index declining 0.6% over the month.
“The energy index decreased 4.0% over the past 12 months,” noted the Bureau. “The gasoline index fell 10.3% over this 12-month span, and the natural gas index declined 0.1%. The index for fuel oil fell 12.1 % over the same period. In contrast, the index for electricity increased 3.9 % over the last 12 months.”
By Staff
