US EditionUS inflation increased more than expected to 2.9% in August
Consumer prices rose 2.9% annually in August, driven by tariffs and higher costs for groceries and gasoline; jobless claims increased by 27,000, signaling labor market weakness.
- US inflation increased to 2.9% in August, driven by increased prices for gas, groceries, and airfare, as reported by the Labor Department.
- Core prices, excluding food and energy, rose 3.1%, remaining above the Federal Reserve's 2% target, according to Labor Department figures.
- Chair Jerome Powell indicated that the Federal Reserve is likely to cut the short-term rate to about 4.1% in response to rising unemployment and inflation challenges.
- The unemployment rate in August increased to 4.3%, with an uptick in weekly unemployment claims suggesting potential layoffs ahead.
135 Articles
135 Articles
Inflation and Jobless Claims Are Rising. Economists Blame Trump’s Tariffs.
New economic data released on Thursday revealed fresh signs of stress for the US economy and working families. A new Consumer Price Index report from the Bureau of Labor Statistics (BLS) found that overall inflation rose by 2.9% year-over-year in August, while core inflation — a measure that excludes commodities such as food and energy — rose 3.1%, the highest reading recorded since this past… Source
Inflation Remains Below 3.0% for 7th Straight Month in August
Despite rising in August, annual inflation has now remained below the 3.0% level recorded in President Joe Biden’s last month in office in every month of President Donald Trump’s second term, data released Thursday by the U.S. Bureau of Labor Statistics (BLS) show. In August, seasonally adjusted CPI increased 0.4% from the previous month, after rising 0.2% in July. Compared to August 2024, the index rose 2.9%, following July’s 2.7% 12-month incr…
Hard Numbers: Venezuela readies “battlegrounds”, US inflation creeps up, art market continues to collapse, Mexico to boost China tariffs
284: Venezuelan president Nicolás Maduro has deployed military assets to 284 “battlefront” locations across the country, amid rising tensions with the US. Washington has moved a huge amount of its own warships and military jets into the Caribbean as part of a plan to wage war on drug cartels that the White House says are in cahoots with Maduro’s regime.2: The European Central bank held interest rates steady at 2% today, waiting to see the impact…
U.S. inflation worsened last month as the cost of gas, groceries and airfares jumped. That puts the Federal Reserve in a difficult spot as the job market slows.
The news puts the Federal Reserve in a tough spot as it prepares to cut rates at its meeting next week despite persistent price pressures.
In the US, prices rose 2.9 percent in August from a year earlier, official data released on Thursday showed. In July, annual price growth in the US was 2.7 percent.
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