YOUR BUSINESS AUTHORITY

Springfield, MO

Log in Subscribe

Consumer prices rise 0.2% in August

Posted online
Last edited Sept. 20 at 3:20 p.m.

The Midwest Consumer Price Index for August was 0.2 percent higher than in July, according to a Bureau of Labor Statistics report released Sept. 17. The July CPI also rose 0.2 percent from June.

The U.S. CPI in August was 218.312, up 0.1 percent from July.

The CPI measures the average change over time in the prices paid by urban consumers for eight major groups: food and beverages, housing, apparel, transportation, medical care, recreation, education and communication and other goods and services.

The CPI is a key economic indicator that tracks inflation by measuring average price changes over time. The base period for the index is 1982–84 and is equal to 100.

The Midwest August CPI was 208.639, compared to the July CPI of 208.211.

August food prices in the region rose 0.4 percent from July. The rise reflects higher costs for food away from home, which were up 0.8 percent, according to the report.

The energy index declined 0.5 percent in August, after five consecutive months of increases. Contributing to the drop was a 0.4 decrease in electricity prices, a 0.2 percent decrease in motor fuel prices and a 2.2 percent decrease in utility gas service prices, the report said.

The all items other than food and energy category - which includes used car and truck sales, medical care, education and others - increased 0.3 percent in August largely due to a 1.2 percent increase in costs for education and communication, a 1.1 percent increase in apparel costs, a 0.1 percent increase in shelter costs, and a used cars and trucks cost increase of 1.1 percent, according to the report.

Along with Missouri, the Midwest category consists of Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Nebraska, North Dakota, Ohio, South Dakota and Wisconsin.[[In-content Ad]]

Comments

No comments on this story |
Please log in to add your comment
Editors' Pick
Open for Business: The Gochu

The Gochu LLC opened at Nixa food hall 14 Mill Market; HOA Management Specialists changed hands; and Chick-fil-A launched on the north side of Springfield.

Most Read
Update cookies preferences