Inflation Accelerated in August as Gas Prices Soared
· Telemundo McAllen (KTLM)
Inflation in the U.S. rose by 0.4% in August, maintaining an annual rate of 3.4%. The core inflation, which excludes food and energy prices, increased by 0.3%, slightly above economists' expectations of 0.2%. A significant contributor to the overall increase was a 3.9% rise in gasoline prices, accounting for over a third of the monthly increase. Food prices went up by 2.1%, while housing costs rose by 0.3%. Despite these increases, real average hourly earnings fell by 0.1% from July to August. Analysts suggest that the Federal Reserve may raise interest rates in their upcoming meeting.
AI summary · Source: Telemundo McAllen (KTLM) →
