US consumer prices rise slightly more quickly than expected in August

(Sharecast News) - The cost of living in the U.S. rose a tad more quickly than anticipated last month. According to the Department of Labor, the headline Consumer Price Index rose at a month-on-month pace of 0.6% in August.

In annual terms, CPI was up by 3.7%.

Economists had forecast increases of 0.5% and 3.6%, respectively.

At the core level meanwhile, which excludes energy and food, CPI was ahead by 0.3% over the month (consensus: 0.2%).

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