US' consumer price index surges 0.6% in August 2023

An upward trend was witnessed in the energy sector, where the index escalated by 5.6 per cent last month, a cumulative effect of spikes in all major energy component indexes. Despite this, a year-end analysis reveals a dip of 3.6 per cent for the 12 months concluding in August.

The index for all items, excluding the impacts of food and energy, experienced a 0.3 per cent uplift in August, slightly higher than the 0.2 per cent seen in July. Consequently, over the span of the last year, this index has surged by a remarkable 4.3 per cent, as per the Bureau of Labor Statistics.

The apparel sector too saw an increase, albeit a modest one, with the index rising by 0.2 per cent in August.

In the broader perspective, the all-items index registered a 3.7 per cent growth for the year ending in August, overshadowing the 3.2 per cent increase documented for the year culminating in July.

ALCHEMPro News Desk (DP)