Gas Prices Fuel US Inflation Spike
US inflation accelerated in August as gas prices spiked.
The Consumer Price Index (CPI) rose by 0.6% from July to August, outpacing economists' expectations of a 0.4% increase.
The sharp jump was largely driven by higher gasoline prices, which increased by 10.1% over the same period.
According to Scripps News, this marks the second consecutive month that gas prices have pushed up inflation numbers.