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commudities eng 400WASHINGTON: A jump in energy costs and sent US consumer prices higher in August, the Labor Department said, after the consumer price index was essentially flat for five straight months.

 

The CPI rose 0.6 percent last month, underpinned by a 5.6 percent rise in the average retail costs of all types of energy, mainly gasoline.

 

It was the highest single month rise in three years, but the year-on-year CPI rise was just 1.7 percent, still below any level that the Federal Reserve would feel the need to take action to hold back inflation.

 

July's 12-month inflation pace was 1.4 percent.

Copyright AFP (Agence France-Presse), 2012

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