Consumer prices in the U.S. increased in line with economist estimates in the month of August, according to a report released by the Labor Department on Friday, with the price growth largely due to a substantial rebound by energy prices.
The Labor Department said its consumer price index rose by 0.6 percent in August after coming in flat in three of the four previous months. The increase in prices matched the expectations of economists.
Core consumer prices, which exclude food and energy prices, edged up by a more modest 0.1 percent in August, matching the increase seen in July. Economists had expected core prices to rise by 0.2 percent.
by RTT Staff Writer
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