Prices rose sharply again for food and most other items in the month of August even as gasoline prices dropped, newly released inflation data shows.
The Bureau of Labor Statistics released its Consumer Price Index Tuesday, which showed a 0.1% increase overall for the month of August. The data, though, shows that a range of items became more expensive but were offset by the recent drop of gasoline prices in recent weeks from record highs in June.
“Increases in the shelter, food, and medical care indexes were the largest of many contributors to the broad-based monthly all items increase,” BLS said. “These increases were mostly offset by a 10.6-percent decline in the gasoline index. The index for all items less food and energy rose 0.6 percent in August, a larger increase than in July.”