NEW YORK —
Consumer prices rose 0.4% last month after increasing 0.2% in July, the largest increase in seven months. The Consumer Price Index, released by the Bureau of Labor Statistics , is a common measure of inflation, as it shows the change over time in the prices consumers pay for goods and services.
This month, the CPI rose 2.9% on an annual basis compared to the 2.7% index recorded in July. Advertisement
The index for food also rose 3.2% in August compared to the year prior. The two grocery items that continue to rise are coffee and tomatoes.
The average cost of ground roast coffee per pound in August was $8.87, compared to $6.31 of the same month last year. Brazil, which sources about a third of U.S. coffee imports , saw its tariffs go up by 50% which took effect in August