US CPI edges past forecasts in August

Consumer price inflation in the States picked up a bit more quickly than anticipated last month, led by increases for used cars and trucks, and energy.

According to the Department of Labor, the US consumer price index rose at a month-on-month clip of 0.4%, pushing the year-on-year rate of increase from 1.0% in July to 1.3% in August (consensus: 1.2%).

Prices at the core level also rose more quickly than anticipated, by 0.2% on the month and by 1.6% on an annual basis (consensus: 1.5%).

The biggest increase in prices was seen in those of used cars and trucks, which rose by 5.4% on the month, while energy costs rose by 0.9% and apparel prices by 0.6%.