WASHINGTON — U.S consumer prices barely rose last month, the latest sign that slow economic growth is keeping inflation tame.
The consumer price index increased just 0.1 percent in August, the Labor Department said Tuesday, after a 0.2 percent rise in July. Excluding volatile food and energy costs, core prices also rose just 0.1 percent.
In12 months, prices have risen 1.5 percent. That’s down from the 2 percent year-over-year gain in July and below the Fed’s 2 percent inflation target. Core prices are 1.8 percent higher than a year ago, the largest 12-month gain since March.