Inflation Picked up Last Month as Gas Prices Rose During Clashes Around Iran – WTOP News
Gasoline accounted for about a third of the monthly increase, and economists said the Federal Reserve may consider another rate hike next week.
- On Friday, the Bureau of Labor Statistics reported the U.S. consumer price index climbed 0.4% in August, holding annual inflation at 3.4% as gasoline prices surged 3.9%.
- Renewed fighting in the Middle East pushed energy costs higher, with the Iran war disrupting global fuel supplies and driving the monthly gasoline surge.
- Record-High diesel prices hit $6 per gallon on Friday, raising shipping costs for groceries and everyday goods as expensive fuel ripples through supply chains.
- Friday's inflation report raised pressure on the Federal Reserve to increase rates at its September 15-16 meeting, with financial markets pricing in 71% odds of a hike.
- President Donald Trump promised $5,000 payments to American adults if the GOP retains its majority, aiming to counter voter concerns about inflation ahead of midterm elections.
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The Seattle TimesAmerica In Focus: inflation accelerated in August, home sales weaken and diesel prices soar
The economy, inflation and how those forces could impact the lives of Americans were front and center over the past week. Trips to the grocery store and gas station are more painful than they were last year, and rising costs are impacting the decisions of both households and businesses. Here’s a snapshot of prominent economic...
Gasoline pushes US monthly inflation higher ahead of Fed meeting
US consumer prices rose 0.4% in August, up from July’s 0.1% increase, as more expensive gasoline added pressure to household budgets ahead of the Federal Reserve’s next interest-rate decision. The annual inflation rate held at 3.4%, according to figures released by the Bureau of Labor Statistics on September 11. Gasoline prices jumped 3.9% during the ...
The inflation rate in the United States rose last August, mainly supported by the rise in car fuel prices, which represented more.
No relief from inflation as fuel prices reach painful levels
WASHINGTON — U.S. inflation accelerated last month as gas prices spiked in the wake of renewed fighting in the Middle East, underscoring the affordability challenges that are top of mind for many voters with midterm elections now just seven weeks…
Inflation holds steady at elevated level as Iran war pushes up gas prices - Regional Media News
(WASHINGTON) - Inflation held steady in August but price increases remained elevated as the Iran war continued to push up fuel prices months after it began. The reading matched economists' expectations. Prices rose 3.4% in August compared to a year earlier, maintaining the same level [...]
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