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| August Consumer Price Data (#1) - Sep. 15, 2005 |
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Summary
Earlier this morning, the Labor Department released August consumer price data. The report indicated a 0.5% rise in the CPI during the month.
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The Labor Department reported that the Consumer Price Index rose 0.5% in August, with a 5.0% (nonannualized) jump in energy prices contributing significantly to the rise. Through August, the CPI was up 5.1% year over year.
Excluding food and energy, the so-called "core" rate -- important only to those who do not eat or drive, or heat or cool their homes -- the CPI rose 0.1% in August. This resulted in a year-over-year gain of 2.2%.
(NOTE: These numbers were not influenced by Hurricane Katrina.)
Now that both the August PPI and CPI have been released, I will soon publish a more detailed analysis of these results. In addition, later today, I will publish an analysis of the July trade data, which were released on Tuesday.
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