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September 11, 2020US CONSUMER PRICE INDEX, AUGUST 2020 The US Consumer Price Index (CPI) for All Urban Consumers increased 0.4 per cent in August (seasonally adjusted monthly growth) after increasing 0.6 per cent in July 2020.
The monthly increase in the US CPI was broad based with the largest contribution coming from a sharp increase in the used cars and trucks index. The index for gasoline, shelter, recreation and household furnishings and operations also increased in August.
The index for all items less food and energy increased 0.4 per cent in August following a 0.6 per cent growth in July 2020. The increase in used cars and trucks prices accounted for over 40 per cent of the growth. The indexes for education and personally care were some of the few components that recorded a decline.
Year-over-year (August 2020 compared to August 2019) consumer prices increased 1.3 per cent (not seasonally adjusted). The year-over-year growth has been rising since the 0.1 per cent increase recorded in May 2020. The index for all-items less food and energy increased 1.7 per cent. The food index increased 4.1 per cent while the energy index declined 9.0 per cent.
Note: Canada and Nova Scotia July 2020 CPI figures will be released September 16, 2020.
Source: US Bureau of Labor Statistics, Statistics Canada CANSIM table 18-10-0004-01
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