Sep 14, 201704:43 PMBlog
Consumer prices steady, earnings flat
The newest report from federal Bureau of Labor Statistics this morning shows that consumer prices for urban consumers in the Tacoma-Seattle-Bremerton marketplace actually fell two-tenths of a percent for the two-month period through August. They do remain 2.5 percent higher in year-over-year comparison.
Increased costs for gasoline and shelter accounted for nearly all of the rising prices on the annual basis through the eighth month of the year.
The national rate of inflation as measured by CPI data is up 1.9 percent annually to the end of last month. The Consumer Price Index for all urban consumers in Pacific cities of the west gained 2.9 percent for markets larger than 1.5 million and 2.3 percent in smaller cities.
At the same time, real average hourly earnings for all employees decreased 0.3 percent from July to August because a very small (0.1 percent) gain in earnings was more than offset by the increase in CPI.