Tony Dejak, AP
Cost of living in the U.S. increased by the largest amount in three years during the month of August, according to Businessweek.
The Consumer Price Index made a 0.6 percent increase in August, according to the Bureau of Labor Statistics.
Items not related to food and gasoline prices only increased 0.1 percent, according to Businessweek.
“I think inflation will remain benign for some time,” Ryan Sweet, a senior economist at Moody’s Analytics Inc. in West Chester, Pa., told Businessweek before the report. “The consumer’s still very, very price-sensitive, and rightfully so because the unemployment rate’s high, wage growth is barely keeping up with inflation.”
Rising gas prices accounted for 80 percent of the increase, according to the Bureau of Labor Statistics.
- Knocking doors: What to know before signing...
- Lawmakers looking to pump up gas tax this...
- Are you part of the global 'baby shortage'?
- Young adults prefer to share chores and...
- Nintendo opens 2015 with some big announcements
- Kimberly Rotter: 7 weird things that affect...
- Greek radical left wins election, threatening...
- EPA inventory highlights 'toxic' releases;...
- Lawmakers looking to pump up gas tax... 56
- Utah has fourth largest gender wage... 12
- Are you part of the global 'baby... 12
- Another study lists Salt Lake as one of... 10
- Obama idea to trim college savings... 6
- Does taking advantage of family leave... 4
- Greek radical left wins election,... 3
- Knocking doors: What to know before... 3