Over the last 12 months, the very controlled and muted all items CPI index increased 3.8 percent, the Bureau of Labor Statistics is reporting.
The seasonally adjusted increase in the all items index was broadbased, with continuing increases in the indexes for gasoline, food, shelter, and apparel. The gasoline index rose for the 12th time in the last 14 months and led to a 1.2 percent increase in the energy index, while the food index rose 0.5 percent, its largest increase since March.
The Consumer Price Index for Urban Wage Earners and Clerical Workers was even higher. It increased 4.3 percent over the last 12 months to an index level of 223.326.
Most interesting, even Nixon's bogus invention, the core index, surged 2 percent, for the 12-months ending in August, the biggest year-over-year increase in nearly three years.
"The gasoline index rose for the 12th time in the last 14 months and led to a 1.2 percent increase in the energy index."
ReplyDeleteGasoline has actually fallen for three straight months. These recent increases are imaginary seasonal adjustments.