The BLS reports:
On a seasonally adjusted basis, the Consumer Price Index for all Urban Consumers (CPI-U) rose 0.4 percent in August, the Bureau of Labor Statistics reported today. The index has decreased 1.5 percent over the last 12 months on a not seasonally adjusted basis.
The 0.4 percent seasonally adjusted increase in the CPI-U was driven by a 9.1 percent rise in the gasoline index. This increase accounted for almost the entire advance in the energy index and over 80 percent of the overall increase. Despite the August increase, the gasoline index has fallen 30.0 percent over the last 12 months.
Actually, not seasonally adjusted (which I always look at for almost all my data), prices declined by 1.5% from 1 year ago. And as always, we need to replace OER (Owners Equivalent Rent) with the latest home price declines as per the Case-Shiller index of 15.13%. When we do that, we get a real price decline of 5.61% from one year ago.