The Consumer Price Index (CPI) rose 1.9% on a year-over-year basis in August, up from a 1.7% increase in July.
Gasoline prices fell to a lesser extent year over year in August (-12.7%) than in July (-16.1%), leading to faster growth in headline inflation. Excluding gasoline, the CPI rose 2.4% in August, after increasing 2.5% in each of the previous three months.
Moderating the acceleration in the all-items CPI were lower prices for travel tours and fresh fruit compared with July.
The CPI decreased 0.1% month over month in August. On a seasonally adjusted monthly basis, the CPI was up 0.2%.
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