U.S. Inflation Ticks Up in August as Food and Housing Costs Climb

The Consumer Price Index rose 0.4 percent in August, led by higher shelter, food, and gasoline prices. Year over year, inflation is up 2.9 percent.

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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.

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Marion is a digital content manager for RFD-TV and The Cowboy Channel. She started working for Rural Media Group in May 2022, adding a decade of experience in the digital side of broadcast media and some cooking experience to the team.

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