Consumer prices in the U.S. held steady in August, with the annualized inflation rate remaining at 3.4%—unchanged from July—while core inflation, excluding volatile energy and food costs, climbed to 2.4% year-over-year. The latest data from the Bureau of Labor Statistics shows persistent price pressures, partly driven by rising energy costs following the end of a U.S.-Iran ceasefire. Though inflation has eased slightly from its three-year peak in May, the latest figures suggest ongoing economic challenges. Readers interested in the latest economic trends and their potential impacts can explore the full report for deeper insights.
Annualized inflation rate was 3.4%, same as July, and core inflation, which omits energy and food prices, rose to 2.4%US consumer prices remained stubbornly high in August as the end of the ceasefire between the US and Iran pushed energy prices up, according to data from the US Bureau of Labor Statistics released on Friday.The annualized inflation rate was 3.4%, the same as it was in July. The most recent peak was seen in May, when the inflation rate hit a three-year high at 4.2%. Core inflation, which strips out volatile energy and food prices, increased 0.3% from the month before and 2.4% annually. Continue reading...
