US inflation picked up last month on a monthly basis, driven by higher motor fuel prices.
The Consumer Price Index increased 0.4% in August, according to the U.S. Bureau of Labor Statistics, up from 0.1% in July. The annual inflation rate remained unchanged at 3.4%.
Gasoline prices were the main driver. The gasoline index rose 3.9% in August, accounting for over one third of the monthly increase in all items. Energy prices climbed 2.1% during the month.
Shelter costs increased 0.3%, while food prices rose 0.1% over the month. The index for food away from home, such as restaurant meals, went up 0.3%.
