September 16, 2009
Gas Pushes Consumer Prices Higher
By Matthew L. Brown
The Consumer Price Index (CPI) increased by 0.4 percent in August, according to the U.S. Bureau of Labor Statistics.
The index has decreased 1.5 percent over the last 12 months. The 0.4 increase was driven by a 9.1 percent increase in the gasoline index. This increase accounted for almost the entire increase in the energy index and more than 80 percent of the overall increase.
Despite the August increase, the gasoline index has fallen 30 percent over the last 12 months.
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