Monthly US consumer prices unexpectedly rise in August; core inflation picks up
Monthly US consumer prices unexpectedly rose in August as declining gasoline prices were offset by gains in the costs of rent and food, giving cover for the Federal Reserve to deliver another hefty interest rate increase next Wednesday.
Stubbornly high rents, food prices boost U.S. inflation in August
U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
Inflation eases for second month in a row but remains high at 8.3%
Inflation only increased by 0.1 per cent in August, but it still climbed upward by 8.3 per cent in the past 12 months, according to the latest Consumer Price Index report from the Bureau of Labor Statistics.
US inflation falls for 2nd straight month on lower gas costs
WASHINGTON (AP) — Sharply lower prices for gas and cheaper used cars slowed U.S. inflation in August for a second straight month , though many other items rose in price, indicating that inflation remains a heavy burden for American households.