Jay ClaytonUnderlying US inflation ran at a faster-than-expected monthly pace in August, leaving the door open for additional interest-rate hikes from the Federal Reserve. The so-called core consumer price index, which excludes food and energy costs, advanced 0.3 percent from July, the first acceleration in six months, Bureau of Labor Statistics data showed Wednesday. From a year ago, it increased 4.3 prcent, in line with estimates and marking the smallest advance in nearly two years. Economists favor the core gauge as a better indicator of underlying inflation than the overall CPI. That measure rose 0.6 percent from the prior month, the most in over a year, and 3.7 percent from a year ago, reflecting higher energy prices.

Source: The Standard September 14, 2023 07:13 UTC