A spike in gas prices pushed up inflation in August, yet most other costs rose at a more modest pace, evidence that consumer price increases overall are still cooling.
in August, yet most other costs rose at a more modest pace, evidence that consumer price increases overall are still cooling.
In a set of conflicting data on 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%, down from 4.7% in July and the smallest increase in nearly two years. That remains far from the Federal Reserve's 2% target.
Despite the seemingly divergent figures, the decline in the core measure could add to optimism that inflation is coming under control. The Federal Reserve closely tracks core prices because they are seen as a better indicator of future inflation trends. Wednesday's figures also make it more likely the Fed will skip an interest rate hike at its meeting next week.
On a monthly basis, consumer prices jumped 0.6% in August, the biggest increase in more than a year. Gas prices spiked nearly 11% in August, though they have since levelled off: According to AAA, the average nationwide price at the pump was $3.84 on Tuesday, little changed from a month ago.Most recent Inflation stories
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
AUD/USD rises sharply on positive China’s news, risk-on sentimentThe Australian Dollar (AUD) climbs sharply against the US Dollar (USD) during the North American session on positive news from China ahead of Aussie’s
Leer más »
EUR/GBP recovers sharply to 0.8600 amid weak UK Employment and Eurozone ZEW dataThe EUR/GBP pair jumped to near the round-level resistance of 0.8600 in the European session. The cross strengthened after the United Kingdom’s Office
Leer más »
Poverty increased sharply in 2022 due to safety net cutbacks and inflation shockStrong labor market signals a better 2023
Leer más »
Prescription opioid shipments declined sharply even as fatal overdoses increased, new data showsNew data shows that the number of prescription opioid pills shipped in the U.S. continued to fall through the late 2010s even as the nation's overdose crisis deepened.
Leer más »
Prescription opioid shipments declined sharply even as fatal overdoses increased, new data showsNew data shows that the number of prescription opioid pills shipped in the U.S. continued to fall through the late 2010s even as the nation's overdose crisis deepened
Leer más »
Prescription opioid shipments declined sharply even as fatal overdoses increased, new data showsNew data shows that the number of prescription opioid pills shipped in the U.S. continued to fall through the late 2010s even as the nation's overdose crisis deepened.
Leer más »