Inflation rose 0.6 percent in August, the second increase in a row and the most significant single-month jump in more than a year, according to newly released data from the Bureau of Labor Statistics (BLS).
The spike was driven primarily by fuel and rent. According to the BLS, the energy index increased 5.6 percent, up from a 0.1 percent increase in July. Gasoline alone rose 10.6 percent, up from 0.2 percent the month before. When considering the entire inflation picture, gas prices accounted for "over half of the increase," the BLS found.
