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.
- How one woman unplugged from technology for...
- Utah construction companies fined, ordered to...
- It can cost you $12,000 a year to buy...
- Uber, Lyft refuse to require driver fingerprints
- Internet billionaires face off in renewed...
- Can a company really be altruistic?
- What could McDonald's do to fix its business?
- Technology and outdoor sports converge at...
- What could McDonald's do to fix its... 11
- Utah construction companies fined,... 8
- How one woman unplugged from technology... 6
- It can cost you $12,000 a year to buy... 4
- Photos: Sharing birthday wishes 2
- First lady: Tech industry to train,... 1
- Greece under fire from creditors as... 1
- Diet Pepsi dropping aspartame on... 1