AVN 67.38 Increased By ▲ 0.09 (0.13%)
BOP 9.90 Increased By ▲ 0.08 (0.81%)
CHCC 128.50 Increased By ▲ 0.19 (0.15%)
DCL 11.30 Increased By ▲ 0.04 (0.36%)
DGKC 111.70 Decreased By ▼ -0.22 (-0.2%)
EFERT 61.68 Increased By ▲ 0.93 (1.53%)
EPCL 44.60 Decreased By ▼ -0.18 (-0.4%)
FCCL 21.12 No Change ▼ 0.00 (0%)
FFL 17.77 No Change ▼ 0.00 (0%)
HASCOL 22.10 Increased By ▲ 0.24 (1.1%)
HBL 133.56 Increased By ▲ 0.45 (0.34%)
HUBC 82.52 Increased By ▲ 0.52 (0.63%)
HUMNL 8.08 Decreased By ▼ -0.02 (-0.25%)
JSCL 30.22 Increased By ▲ 0.33 (1.1%)
KAPCO 28.04 Increased By ▲ 0.16 (0.57%)
KEL 4.24 Increased By ▲ 0.03 (0.71%)
LOTCHEM 12.62 Decreased By ▼ -0.05 (-0.39%)
MLCF 39.74 Increased By ▲ 0.25 (0.63%)
OGDC 105.45 Decreased By ▼ -0.04 (-0.04%)
PAEL 37.29 Decreased By ▼ -0.02 (-0.05%)
PIBTL 13.58 No Change ▼ 0.00 (0%)
PIOC 98.09 Increased By ▲ 0.29 (0.3%)
POWER 9.65 Increased By ▲ 0.12 (1.26%)
PPL 94.03 Increased By ▲ 0.34 (0.36%)
PSO 207.85 Increased By ▲ 0.60 (0.29%)
SNGP 64.37 Decreased By ▼ -0.04 (-0.06%)
STPL 14.20 Increased By ▲ 0.03 (0.21%)
TRG 55.40 Increased By ▲ 0.07 (0.13%)
UNITY 18.38 Decreased By ▼ -0.01 (-0.05%)
WTL 1.21 Increased By ▲ 0.01 (0.83%)
BR100 4,334 Decreased By ▼ -12.22 (-0.28%)
BR30 22,002 Decreased By ▼ -81.03 (-0.37%)
KSE100 41,701 Decreased By ▼ -105.14 (-0.25%)
KSE30 17,606 Decreased By ▼ -52.86 (-0.3%)
COVID-19 TOTAL DAILY
CASES 309,581 566
DEATHS 6,451 7

WASHINGTON: The United States saw inflation climb slightly above expectations in August, driven by sales of used cars and recreation equipment as well as gasoline prices' continued recovery, government data showed Friday.

The Labor Department's consumer price index (CPI) fell into the negative for three months starting in March as the coronavirus pandemic slammed the global economy, causing a huge drop in crude prices amid oversupply concerns as well as sharp pullbacks in consumer spending in some areas.

However, recent months have seen the indicator recover, and August's month-on-month growth of 0.4 percent, seasonally adjusted, was down from the 0.6 percent rise seen in July.

Used cars and trucks drove the growth with a 5.4 percent gain, while gasoline rose 2.0 percent, though that was less than its 5.6 percent rise in July. Recreation jumped 0.7 percent after spending the past two months in negative territory, while airlines fares rose 1.2 percent over the month, reflecting consumers' continued return to spending and travel habits as lockdowns to stop the spread of Covid-19 eased.

However, education fell 0.3 percent, which the Labor Department said was its first decline since the index started in 1993, while personal care fell by the same amount after rising in June and July.

Kathy Bostjancic of Oxford Economics credited the jump in used car prices, their biggest since 1969, to city dwellers looking for ways to avoid public transportation or move out of town permanently, while predicting the boost wouldn't last.

"Despite the stronger-than-expected monthly advance in CPI in the past two months, we continue to foresee the slow recovery in aggregate demand keeping the pace of inflation contained in the coming months," she said in an analysis.

Year-on-year, inflation was up 1.3 percent, gaining from its 1.0 percent rate seen in July, and the so-called core index excluding food and energy was also up 0.4 percent, seasonally adjusted, in August, above expectations.