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US inflation in August rose to 3.7% amid sharp increase in energy prices

Consumer inflation in the US rose for the second consecutive month in August, increasing by 3.7% compared to the previous year. This puts pressure on policymakers to address rising prices.
The core inflation rate, which excludes food and energy, cooled to 4.3% on an annual basis. However, prices for gasoline and shelter continued to rise. If core readings weaken further, it may signal to the Federal Reserve that further tightening is unnecessary.
While some prices, such as auto insurance and grocery prices, have increased, others have seen slower growth or even a decrease. The Federal Reserve is closely monitoring these factors and is expected to be cautious in lowering interest rates.

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WWLP

Inflation went up again in August, with prices increasing 3.7% year-over-year

GREENFIELD, Mass. (WWLP) - After a year of declines, inflation went up again in August causing some concerns. The Bureau of Labor Statistics report shows that prices for U.S. consumers grew 3.7% in August compared to a year ago and people 22News spoke to said they are feeling the effects. After 12 straight months of decline, the annual inflation has now ticked up two months in a row to 3.7 percent. Springfield’s gas prices have dropped by 1…

1 year ago·Springfield, United States

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WTTW

High Gas Prices Push Up Inflation, But Prices Overall Are Slowly

In a set of conflicting data, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-called core prices rose 4.3%, a step back from 4.7% in July and the smallest increase in nearly two years.

1 year ago

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The New York Sun

High Gas Prices Push Up Inflation in August, While Pressure Eases Slowly on Other Goods and Services

The Fed is widely expected to skip an interest rate hike at its meeting next week. Wednesday’s figures, though, keep the prospect of another rate increase later this year on the table.

1 year ago·New York, United States

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Sentinel-Tribune

Sharply higher gas prices pushed up inflation in August, yet underlying price measures cooled

WASHINGTON (AP) — A spike in gas prices pushed up inflation in August, yet most other costs rose at a more modest pace, evidence that price increases overall are still cooling. In a set of conflicting data released Wednesday, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-called core prices rose 4.3%, a step back…

1 year ago·Bowling Green, United States

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Odessa American

High gas prices push up inflation, but prices overall are slowly moving in the right direction - Odessa American

By CHRISTOPHER RUGABER AP Economics Writer WASHINGTON Inflation jumped last month largely because of a spike in gas prices but other costs rose more slowly, suggesting price pressures are easing at a gradual pace. In a set of conflicting data released Wednesday, the Labor Department said the consumer price index rose 3.7% in August from a year ago, up from a 3.2% annual pace in July. Yet excluding the volatile food and energy categories, so-cal…

1 year ago

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The Print

Amid rising gas prices, US inflation soars to 3.7 pc

Washington, DC [US], September 13 (ANI): Amid rising gas prices, the US inflation rose to 3.7 per cent, recording an acceleration for the second-straight month, CNN reported on Wednesday. However, core inflation, which strips out volatile food and energy prices, continued to slow, CNN reported citing data from the Bureau of Labor Statistics. The Consumer […]

1 year ago·New Delhi, India

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