U.S. inflation accelerates to 3.7% in August

Investing.com -- U.S. consumer prices accelerated by more than expected on a yearly basis in August, in a sign of lingering inflationary pressures in the world's largest economy that may impact the Federal Reserve's interest rate path for the rest of the year.

The Labor Department's closely-watched consumer price index (CPI), a measure of price gains, increased by 3.7% annually during the month from 3.2% in July. Month-on-month, the CPI reading was 0.6%, picking up the pace from 0.2%. Economists had expected the figures to come in at 3.6% and 0.6%, respectively.

.

You May Also Be Interested In

• Goldman pushes Fed rate hike to December after cooler inflation
• Micron earnings preview: Can the AI boom keep the momentum going?
• Buy this European stock for its defensive nature in an uncertain macro: BofA