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.
- Kennecott hopes project will change mountain...
- State lawmaker calling for criminal probe...
- 10 jobs you can get right now
- 10 things to know about corporate inversions
- Amish country bristles at ‘Mafia’...
- Summit County sees credit card breach after...
- 6 financial moves to prevent sleepless nights
- 3 ways insurers can still avoid covering the...
- 10 things to know about corporate... 32
- 3 ways insurers can still avoid... 13
- Paul Mero steps down as head of... 9
- Cantwell targets small business loan... 4
- Applications for US unemployment aid... 4
- Dave Ramsey says: Government unlikely... 3
- Utah board approves winery in... 3
- Study: Social media users shy away from... 2