Consumer prices increase at annualized rate of 0.4% in August: Labor Department

The cost of goods and services in the U.S. increased 0.4% compared to the same time last year, the Bureau of Labor Statistics reported Friday. 

Over the last 12 months, the agency's Consumer Price Index increased 3.4% before seasonal adjustment. Both numbers were in line with the Dow Jones consensus, according to CNBC. 

The index for gasoline rose 3.9% in August, accounting for over one-third of the monthly, all-items increase, the agency reports.

The annualized increase for all goods and services in July was 0.1%.