Consumer Price Index Rose 0.3% in August 2021

By Tom Burnett CFA
On September 14, 2021, the Bureau of Labor Statistics released Consumer Price Index data for the month of August. Prices rose by 0.3% in August, down from 0.9% in June and 0.5% in July. Over the past 12 months, the Index has risen by 5.3%, down from a rate of 5.4% in the year ended in July.
The Core Index, excluding food and energy, rose by just 0.1% in August, the smallest rate of increase since February 2021. Over the past 12 months, the Core Index rose 4.0%, a smaller increase than for the period ending in July.
It now appears that the spike in inflation experienced in June and July is leveling off and not increasing.
The next report on the Consumer Price Index will be issued on October 13, 2021.