Forex
Gas Price Spike Drives US Inflation to 5.4%
US inflation accelerated in August as gas prices spiked, according to data released by various sources. The inflation rate increased from 5.3% in July to 5.4% in August, marking a slight increase.
The sharp rise in gas prices was the main contributor to the higher inflation rate, with prices increasing by 10.1% over the past year. Gas prices have been volatile in recent months due to various factors such as supply chain disruptions and global demand.