US Inflation Picks Up in August as Gas Prices Surge — SkimNews
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- US consumer inflation picked up in August, with gas prices cited as a key driver of the increase across Reuters, the New York Times, and the Honolulu Star-Advertiser
- The August inflation report raised market odds of a Federal Reserve rate hike, though the Dow opened higher on the day the data was released
Why it matters: An accelerating August inflation print, fueled by surging gas prices, gives the Federal Reserve fresh cover to raise interest rates — a move that would raise borrowing costs for consumers and businesses already facing elevated energy prices.
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