The Consumer Price Index (CPI) rose 1.1% on a year-over-year basis in August, following a 1.3% gain in July. Excluding gasoline, the CPI was up 1.7% year over year in August, after posting a 1.9% increase in July. Prices were up in seven of the eight major components in the 12 months to August, with the shelter index contributing the most to the year-over-year rise in the CPI. Smaller year-over-year gains in the food index and the recreation, education and reading index contributed the most to the deceleration in the year-over-year increase in consumer prices. Food prices were up 1.1% year over year in August, after ... (full story)