US' annual inflation continues to increase in August

By Gokhan Ergocun

ISTANBUL (AA) - The annual inflation rate in the US was at 3.7% in August, up for the second month in a row, the Bureau of Labor Statistics revealed on Wednesday.

In the month, food prices were up by 4.3%, while energy item posted a decline of 3.6% on an annually basis, the official figures showed.

The annual inflation rate dropped to 3% in June from 4% in May, but rebounded to 3.2% in July.

The monthly inflation rate was at 0.6% in August, up from 0.2% in July.

"The index for gasoline was the largest contributor to the monthly all items increase, accounting for over half of the increase," it added.