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EconomyDEVELOPING

US inflation steady at 3.4% in August — higher fuel costs strain households

US consumer prices rose 3.4% year-on-year in August, unchanged from July, official BLS data show. Rising gasoline and diesel costs — including an average diesel price topping $6 per gallon on Friday — are squeezing household budgets and increasing market bets on a Fed rate hike next week.

  • US inflation stood at 3.4% year-on-year in August, unchanged from July.
  • Gasoline rose 3.9% in August, contributing more than a third of monthly inflation.
1 sources93% confidence
BBC Business
Inflation and monetary policyDEVELOPING

US consumer inflation held at 3.4% in August as energy costs rose after Iran tensions

Annual US inflation was 3.4% in August, unchanged from July. Energy-price increases after the U.S.–Iran ceasefire ended pushed gasoline and diesel higher while core inflation rose to 2.4% year-over-year, according to the US Bureau of Labor Statistics.

  • Annual US inflation was 3.4% in August, unchanged from July.
  • Gasoline rose 27.4% year-over-year and accounted for over one-third of the monthly increase.
1 sources91% confidence
The Guardian Business