US CPI rose 0.1% mom in August, after being flat in July, above expectation of -0.1% mom decline. Core CPI rose 0.6% mom, larger than prior month’s 0.3% mom, and higher than expectation of 0.3% mom. Energy declined -5.0% mom while food index rose 0.8% mom.
For the 12 months ending August, CPI slowed from 8.5% yoy to 8.3% yoy, above expectation of 8.1% yoy. CPI core accelerated from 5.9% yoy to 6.3% yoy, above expectation of 6.0% yoy. Energy rose 23.8% yoy, slowed from 32.9% yoy. Food rose 11.4% yoy, largest 12-month increase since May 1979.
