Consumer Prices Rose .5% in August: Consumer Prices Still Go Up But Rate Is Not Acceleratiu
Consumer prices continued to rise at about a 6 per cent annual rate in \ August, easing some concerns that a new bout of inflation was in the offing.</br></br>The Department of'Labor reported yesterday that its consumer price index rose 0,5 per cent in August, the same as in June and -July, and that for the past three months consumer inflation has been at an annual pace of 6 per cent.</br></br>That is right where the administration lias projected this year's rise. It is below last yearÛªs 7 per cent rate and the huge 12.2 per cent rate of 1074.</br></br>Unlike the overall consumer price index, the local increases are not adjusted for seasonal variation.</br></br>The unadjusted 1.8 per cent rise is slightly more than the 1.6 per cent rise nationwide. The government computes a Washington index every three months.