WASHINGTON -- Consumer inflation rose 0.3 percent in August, the largest advance in four months, lifted by higher prices for energy products, clothing and tobacco.
The advance in the Consumer Price Index, the government's most closely watched inflation gauge, followed a tiny, 0.1 percent rise in July, the Labor Department reported today.
Excluding energy and food prices, which tend to bounce around a lot from month to month, the "core" rate of inflation also rose by 0.3 percent in August, up from a 0.2 percent increase in July.
In other economic news, the Commerce Department reported that the U.S. trade deficit declined to $34.6 billion in July as exports rose for a fifth straight month, helped by a record level of overseas sales of American-made cars and parts.
archive