US Consumer Prices Accelerate and Fuel Rate Hike Bets
U.S. consumer prices accelerated in August as underlying inflation posted its largest increase in four months. The data reinforces expectations that the Federal Reserve will raise interest rates next week to combat mounting energy costs.
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United States consumer prices accelerated by 0.4% in August, pushing the annual inflation rate to 3.4% and cementing expectations for a Federal Reserve rate hike. The pickup matches economist projections as surging fuel costs ripple through broader supply chains.
