Consumer Price Index: Inflation Fell 0.3%
Consumers paid 1.3% more in August 2016 than they did a year ago for the basket of goods and services included in the Consumer Price Index [CPI]. The level of inflation fell 0.3 percentage points from the 1.6% measured in July 2016.
The Consumer Price Index report said, “Between July 2016 and August 2016, the average cost of goods and services in the CPI decreased by 0.5%. The all-items index dropped to 101.7 in August. This means that the basket of goods and services that cost $100.00 in April 2015 now costs $101.70.
“The Education, Recreation, Entertainment & Reading sector was the largest contributor to the year-over-year change, increasing 4.1%. In addition, the Health & Personal Care sector and the Rent Sector also impacted significantly the year-over-year increase. These sectors rose 3.6 and 1.4%, respectively.”
The full August 2016 Consumer Price Index follows below [PDF here]:
