US CPI Rises 0.4% in August, Gasoline Index Up, USD Drops


   
Karim Bastati
DTN Analyst

   VIENNA (DTN) -- The U.S. Consumer Price Index increased 0.4% in August, 
after increasing 0.2% in July, bringing the annual rate of inflation for the 
all-items index to 2.9%, up from 2.7% in the previous month, according to data 
released this morning by the U.S. Bureau of Labor Statistics. The CPI 
year-on-year figure was above market expectation of a 2.7% increase.

   BLS reported that the energy index rose 0.7% in August as the gasoline index 
grew 1.9% from the previous month.

   The food index was up 0.5% month-on-month as the indices for food at home 
and food away from home rose 0.6% and 0.3%, respectively.

   The all-items less food and energy index, so-called core inflation, rose 
0.3% in August, similar to the monthly rise recorded in July.

   Categories that increased in August included airline fares, new vehicles, 
and used cars and trucks. Meanwhile, medical care, recreation and communication 
were among the few major indexes that decreased in the reviewed month.

   In response to the data, the October NYMEX WTI futures contract extended its 
decline to $0.84, trading near $62.83 bbl. The U.S. dollar index decreased by 
0.240 points to 97.695 against a basket of foreign currencies.   




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