U.S. Consumer Prices Increase In Line With Estimates In August

(RTTNews) - A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased in line with economist estimates in the month of August.

The Labor Department said its consumer price index climbed by 0.4 percent in August after inching up by 0.1 percent in July.

Excluding sharply higher energy prices and an uptick in food prices, core consumer prices rose by 0.3 percent in August after edging up by 0.2 percent in July. Economists had expected core prices to rise by another 0.2 percent.

The report also said the annual rate of consumer price growth was unchanged at 3.4 percent, while the annual rate of core consumer price growth dipped to 2.4 percent in August from 2.5 percent in July, which matched expectations.