Asia Bizz: Consumer Price Rise In The US, Up By 0.3% In The Month Of August
Consumer price rise in the US has skyrocketed to 0.3% in the month of August, and as a reason the fuel prices in the country had to rise simultaneously, which has hit the normal consumer hard. Once the energy prices were up, inflation went up along with it, and now the there has been a 2.3% rise in the rates of the energy sector and in addition to this, fuel prices were up by a whooping 3.9%.
There was relief in the food prices in the month of July, but it rose by 0.2% once again in the month of August. According to the experts, the price rise is slightly higher than it was expected, but rather than this the market is more concerned about deflation rather than inflation, and with a price rise this could be boon.
Consumer spending has now become a big worry, as of before, it was on the negative side, for the normal man in the US was thinking a lot before taking out his cash. But matters have become worse, and its not only in the middle class, but even those Americans who are better off, are not willing to spend. On of the key reasons for such behavior in the market is the prices rise in various commodities and the wobbling economy.