WASHINGTON — Consumer prices increased 0.3% in August on higher energy costs and posted the first back-to-back price increases of the year, the Labor Department reported Friday.
Core prices, excluding food and energy items, were unchanged for the month.
Economists expected consumer prices would rise 0.2% and that core prices would increase 0.1%, according to the median estimate.
Consumer prices also rose an unrevised 0.3% in July, while core prices were up an unrevised 0.1% in the month.
For the 12 months ending in August, consumer prices increased 1.1% and core prices rose 0.9%.
The 12-month change for core prices has been a 0.9% increase for five straight months.
Real average hourly earnings for all employees was unchanged in August following a 0.1% decline in July.
