US EditionThe Fed’s favorite inflation indicator rose less than expected in August
- Inflation in the US accelerated in August, mainly due to higher gas prices, according to a report from the Commerce Department. Prices rose by 0.4% from July to August, compared to just 0.2% the previous month.
- However, when excluding food and gas, core inflation remained low, with prices rising by only 0.1% in August. This suggests that inflation is cooling, although at a slower pace compared to earlier this year.
- The Federal Reserve is hopeful that they can achieve their inflation target without causing a recession or increasing unemployment, as evident from their quarterly forecasts. They expect unemployment to rise from 3.8% to 4.1%, and core inflation to drop to 2.6% by the end of 2024.
51 Articles
51 Articles
Higher gas prices lift Fed’s preferred inflation gauge
WASHINGTON >> An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating.
Higher gas prices lift inflation gauge but underlying price pressures remain mild - Maryland Daily Record
An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. The post Higher gas prices lift inflation gauge but underlying price pressures remain mild appeared first on Maryland Daily Record.
Higher gas prices lift Fed’s preferred inflation gauge but underlying price pressures remain mild
An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in the latest sign that overall price pressures are still moderating. A 10% monthly spike in prices at the gas pump drove the increase. Excluding volatile food and gas prices, “core” inflation rose by the smallest amount in nearly three years, evidence that inflation pressures continue to ease…
Higher gas prices lift Fed's preferred inflation gauge but underlying price pressures remain mild
The conflicting and lukewarm signs of economic health in the U.S. are continuing, with an inflation gauge closely watched by the Fed showing mild inflation pressure.
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