Reflecting a steep drop in energy prices, the Labor Department released a report on Wednesday showing a modest decrease in U.S. consumer prices in the month of August.

The Labor Department said its consumer price index edged down by 0.1 percent in August after inching up by 0.1 percent in July. Economists had expected prices to come in unchanged.

Excluding food and energy prices, the core consumer price index ticked up by 0.1 percent in August, matching the increase seen in the previous month as well as economist estimates.

The material has been provided by InstaForex Company – www.instaforex.com