Core consumer price index rises 0.1% in August, smallest increase since February

• August Consumer Price Index: +0.3% vs. +0.4% consensus and +0.5% prior.
• +5.3% Y/Y vs. +5.3% consensus and +5.4% prior.
• The indexes for gasoline, household furnishings and operations, food, and shelter all contributed to the monthly all-items seasonally adjusted increase. The energy index rose 2.0%, mainly due to a 2.8% increase in the gasoline index.
• Core CPI: +0.1% vs. +0.3% consensus and +0.3% prior; August's increase represents the smallest rise since February 2021.
• In addition to the rise in prices for household operations and shelter, the indexes for new vehicles, recreation, and medical care also rose in August.
• Indexes for airline fares, used cars and trucks, and motor vehicle insurance declined from July.
• +4.0% Y/Y vs. +4.2% consensus and +4.3% prior.
• Then energy index jumped 25% over the past 12 months and the food index increased 3.7%, both larger than the increases for the 12-month period ending July.