As could be predicted following yesterday’s drastic shift in the PPI, the BLS announced this morning that the consumer price index (CPI) rose by 0.6% in August on a seasonally-adjusted basis. This is the largest single month increase since June of 2009.

Similar to the PPI reading, the gains were supported by increases in food and energy. The core CPI, which excludes food and energy, was only up 0.1%, consistent with historical figures.

 

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