by Mike ‘Mish’ Shedlock
Prices rallied for the second month but year-over-year prices are still benign.
CPI Up 0.4% in August
The Consumer Price Index for August increased 0.4 percent in August on a seasonally adjusted basis after rising 0.6 percent in July.
– The monthly increase in the seasonally adjusted all items index was broad-based; a sharp rise in the used cars and trucks index was the largest factor, but the indexes for gasoline, shelter, recreation, and household furnishings and operations also contributed.