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U.S. inflation accelerates to 3.7% in August
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investing.comInvesting.com — U.S. consumer prices accelerated by more than expected on a yearly basis in August, in a sign of lingering inflationary pressures in the world's largest economy that may impact the Federal Reserve's interest rate path for the rest of the year.
The Labor Department's closely-watched consumer price index (CPI), a measure of price gains, increased by 3.7% annually during the month from 3.2% in July. Month-on-month, the CPI reading was 0.6%, picking up the pace from 0.2%. Economists had expected the figures to come in at 3.6% and 0.6%, respectively.
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Read more on investing.comAbout this in other media
Rate rise remains likely despite surprise inflation fall to 6.7% investmentweek.co.uk /1 year ago
Inflation jumped up to 4% in August thanks to rising gas prices globalnews.ca /1 year ago
Eurozone inflation slows to 5.2% in August investmentweek.co.uk /1 year ago
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