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US CPI declined in August on oil, housing and transport prices |
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FXstreet.com (Barcelona) – Inflation at consumer level has declined on the month in August due to price drops housing, transportation, and the sharp monthly decline in oil prices, according to data released by the US Labor Department.
Consumer prices have edged down 0.1% in August from July, with energy prices posting a 3.5% decline month on month, excluding food and energy, consumer prices have posted a 0.2% increase, following a 0.3% rise in July. Apart from energy prices, transportation prices declined 1.5%, and housing prices edged down 0.1%.
In the twelve months to August, CPI has increased at a 5.4% pace in August, down from the 5.7% pace posted in July. Transportation and energy prices have been the largest inflationary contributors. Transportation has increased at a 12.1% pace, in August, while energy prices have increased 27.2%.
Posted originally: 9/16/2008 12:47:00 PM
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