Golden Ten Data Exclusive: Full Text of the US August CPI Report

The U.S. Bureau of Labor Statistics announced today that the Consumer Price Index for All Urban Consumers (CPI-U) rose by 0.4% in August on a seasonally adjusted basis, following a 0.2% increase in July. Over the past 12 months, the all-items index increased by 2.9% before seasonal adjustment.

The housing index rose by 0.4% in August, making it the largest contributor to the overall index increase for the month. The food index rose by 0.5% in August, with the at-home food index up 0.6% and the away-from-home food index up 0.3%. The energy index increased by 0.7% in August, with the gasoline index rising 1.9% for the month.

The core index, which excludes food and energy, rose by 0.3% in August, consistent with July. Items that increased during the month included airline fares, used cars and trucks, apparel, and new vehicles. Major items that declined in August included medical care, recreation, and communication indexes.

For the 12 months ending in August, the all-items index rose by 2.9%, compared to a 2.7% increase for the 12 months ending in July. The core index, excluding food and energy, rose by 3.1% over the past 12 months. The energy index increased by 0.2% for the 12 months ending in August. The food index rose by 3.2% over the past year.

Food

The food index rose by 0.5% in August, after remaining unchanged in July. The at-home food index increased by 0.6% for the month. All six major grocery store food group indexes increased in August. The fruits and vegetables index rose by 1.6% for the month, with the tomato index up 4.5% and the apple index up 3.5%. The meats, poultry, fish, and eggs index rose by 1.0% in August, with the beef index up 2.7%. The nonalcoholic beverages index increased by 0.6%, and the other food at home index rose by 0.1%. The dairy and related products index and the cereals and bakery products index both increased by 0.1% in August.

The away-from-home food index rose by 0.3% in August. The full-service meals index increased by 0.4% for the month, while the fast food index rose by 0.1%.

For the 12 months ending in August, the at-home food index rose by 2.7%. The meats, poultry, fish, and eggs index increased by 5.6% over the past year. The nonalcoholic beverages index rose by 4.6% during the same period, and the other food at home index increased by 1.5%. The fruits and vegetables index rose by 1.9% for the 12 months ending in August. The cereals and bakery products index increased by 1.1%, and the dairy and related products index rose by 1.3%.

The away-from-home food index rose by 3.9% over the past year, with the full-service meals index up 4.6% and the fast food index up 3.2%.

Energy

The energy index rose by 0.7% in August, after falling by 1.1% in July. The gasoline index increased by 1.9% for the month. The electricity index rose by 0.2% for the month, while the natural gas index fell by 1.6% during the same period.

The energy index increased by 0.2% over the past 12 months. The gasoline index fell by 6.6% during this period, and the fuel oil index decreased by 0.5%. In contrast, the electricity index rose by 6.2% over the past year, and the natural gas index increased by 13.8%.

Excluding Food and Energy

The core index, excluding food and energy, rose by 0.3% in August, consistent with July. The housing index increased by 0.4% for the month. The owners' equivalent rent index rose by 0.4% in August, and the rent index increased by 0.3%. The lodging away from home index rose by 2.3% for the month.

The airline fares index rose by 5.9% in August, following a 4.0% increase in July. The used cars and trucks index increased by 1.0% in August, and the apparel index rose by 0.5%. The new vehicles index increased by 0.3% for the month, and the household furnishings and operations index rose by 0.2%. The recreation and communication indexes both fell by 0.1% in August.

The medical care index fell by 0.2% for the month, after rising by 0.7% in July. The dental services index decreased by 0.7% in August, and the prescription drugs index fell by 0.2%. The physicians' services index increased by 0.3% for the month, while the hospital services index remained unchanged.

Over the past 12 months, the core index excluding food and energy rose by 3.1%. The housing index increased by 3.6% over the past year. Other notable increases included medical care (+3.4%), household furnishings and operations (+3.9%), used cars and trucks (+6.0%), and motor vehicle insurance (+4.7%).

Unadjusted CPI Indicators

The Consumer Price Index for All Urban Consumers (CPI-U) rose by 2.9% over the past 12 months, reaching 323.976 (1982-84=100). The index increased by 0.3% for the month before seasonal adjustment.

The Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) rose by 2.8% over the past 12 months, reaching 317.306 (1982-84=100). The index increased by 0.3% for the month before seasonal adjustment.

The Chained Consumer Price Index for All Urban Consumers (C-CPI-U) rose by 2.7% over the past 12 months. The index increased by 0.3% for the month before seasonal adjustment. It should be noted that the indexes for the past 10 to 12 months may be revised.