WASHINGTON (RFD-TV) – Consumer prices rose faster than expected in August, with the Consumer Price Index (CPI) increasing 0.4 percent on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported Thursday. That brought annual inflation to 2.9 percent, up from July’s 2.6 percent.
Food and shelter were the biggest drivers. Grocery prices jumped 0.6 percent last month, while restaurant meals rose 0.3 percent, pushing food inflation to 3.2 percent over the year. Housing costs climbed 0.4 percent in August and are now up 3.6 percent compared with a year ago.
Energy prices rose 0.7 percent, led by gasoline, though natural gas costs fell. Core inflation, which strips out food and energy, increased 0.3 percent in August and 3.1 percent year-over-year.
The report also showed increases in airline fares, used cars, and apparel, while medical care and recreation costs edged lower.
U.S. Senator Deb Fischer (R-NE) discusses the USDA’s new cattle plan, ethanol policy, and the broader challenges ahead for rural America.
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Expect firm calf and fed-cattle prices — pair selective heifer retention with prudent hedging and liquidity to bridge rebuilding costs.
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The new antitrust agreement between the Department of Justice (DOJ) and the U.S. Department of Agriculture (USDA) aims to enforce antitrust laws and monitor market activity across the ag sector.
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