U.S. August CPI up 2.9%… in line with market expectations

JOON HYOUNG LEE

Summary

The U.S. August consumer price index (CPI) rose 2.9%, matching market expectations.
Core CPI also rose 3.1%, in line with experts' forecasts.
Month-on-month, the CPI and core CPI rose 0.4% and 0.3%, respectively, indicating the month-on-month upward trend continues.

The U.S. August consumer price index (CPI) increase was in line with market expectations.

The U.S. Department of Labor said on the 11th (local time) that last month's CPI rose 2.9% year on year. This matched market expectations (2.9%). Compared with July this year (2.7%), the increase widened by 0.2 percentage points.

Compared with the previous month, it rose 0.4%. That is 0.1 percentage point higher than experts' forecasts (0.3%). Compared with the July rate (0.2%), the increase widened by 0.2 percentage points.

The core CPI, excluding the volatile food and energy components, rose 3.1% from a year earlier. That matched experts' forecasts (3.1%). The rate was the same as July's (3.1%). Month-on-month, it rose 0.3%.

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