U.S. Annual Inflation Up to 1.7% in August

The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.6 percent in August on a seasonally adjusted basis, the U.S. Bureau of Labor Statistics reported on September 14th. Over the last 12 months, the all items index increased 1.7 percent before seasonal adjustment.

The 12-month change in the index for all items was 1.7 percent in August, an increase from the July figure of 1.4 percent. The index  for all items less food and energy rose 1.9 percent for the 12 months  ending August, a slight decline from the 2.1 percent figure in July  and its smallest increase since July 2011.
The seasonally adjusted increase in the all items index was the  largest since June 2009. About 80 percent of the increase was  accounted for by the gasoline index, which rose 9.0 percent and was  the major factor in the energy index rising sharply in August after  declining in each of the four previous months.
The food index increased 0.2 percent in August, with major grocery store food group indexes mixed. The index for all items less food and energy rose 0.1 percent for the second month in a row. The indexes for shelter, medical care, personal care, new vehicles, and recreation all rose in August. These increases more than offset declines in the indexes for used cars and trucks, apparel, household furnishings and operations, and airline fares.

TradingEconomics.com, BLS
9/14/2012 1:33:30 PM