The Consumer Price Index (CPI) rose 3.0% year over year in August, matching the 3.0% increase in July.
Year over year, prices for gasoline rose at a slower pace in August compared with July, putting downward pressure on the all-items CPI. Excluding gasoline, the CPI rose 2.4% in August, after increasing 2.2% in July.
In August, the slowdown in gasoline prices on an annual basis was offset by higher prices for travel tours and rent. The CPI fell 0.1% month over month in August. On a seasonally adjusted monthly basis, the CPI rose 0.2%.