Inflation rose 0.1% in August even with sharp drop in gas prices
- The consumer price index increased 0.1% in August. Excluding food and energy, the inflation gauge rose 0.6%, both higher than expected.
- Costs were driven by increases in food, shelter and medical care services, offsetting a sharp decline in gasoline prices.
- Real average hourly earnings adjusted for inflation rose 0.2% for the month. However, they remained down 2.8% from a year ago.