US consumer inflation picks up in August, up 3.4% YoY

In August, consumer prices in the U.S. surged, mainly due to increasing gasoline prices. This trend elevates the likelihood of an interest rate hike by the Federal Reserve, with economists predicting a monthly rise in the consumer price index of 0.4%. When excluding food and energy, the core consumer price index saw a 0.3% rise, leading to a market expectation of a 70% chance for a 25-basis-point hike.

This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.