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.
- Insights from the Behavioral Science Guy:...
- Dave Ramsey says: Dave Ramsey: Pets and...
- David Muir takes over ABC's 'World News' from...
- About Utah: A Salt Lake hit for 152 years ......
- Some fear auto industry returning to bad habits
- Kennecott hopes project will change mountain...
- No timeline announced yet for Cottonwood Mall...
- Netflix unveils new way to share recommendations
- Kennecott hopes project will change... 7
- State lawmaker calling for criminal... 5
- Some fear auto industry returning to... 3
- Feds eye stricter rules for railroad... 2
- Obama promoting economic gains as... 2
- No timeline announced yet for... 2
- About Utah: A Salt Lake hit for 152... 2
- Dave Ramsey says: Dave Ramsey: Pets and... 2