U.S. consumer prices rose 0.1 percent in August mainly due to higher costs for houses and medical care, the Labor Department said Tuesday. Economists polled by Reuters had called for a 0.2 percent rise.
Gasoline prices dropped 0.3 percent last month, marking its first decline since April. Food prices rose 0.1 percent, the same increase as July.
The underlying inflation was fairly muted. Stripping out volatile food and energy costs, the so-called core CPI increased 0.1 percent, in line with estimates.
The overall CPI and the core reading climbed 1.5 percent and 1.8 percent, respectively, over the last 12 months that ended in August, staying within the Federal Reserve's target for inflation.
US Consumer Price Index (CPI) Up 0.1% In August, Gasoline Prices Fell
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