US Consumer Prices Accelerate in August
U.S. consumer prices accelerated in August as gasoline costs rebounded after two straight monthly declines. The Consumer Price Index increased 0.4 percent, matching economist expectations and boosting rate hike prospects.
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United States consumer prices accelerated in August as gasoline costs rebounded, driving the CPI up 0.4% following a 0.1% rise in July. The acceleration matches the 3.4% year-on-year inflation rate forecasted by economists polled by Reuters. The data bolsters financial market expectations that the Federal Reserve could raise interest rates at its upcoming policy meeting.
