Forex
US Inflation Hits 3.4% as Gas Prices Surge
The US inflation rate has reached 3.4% in August 2026, according to the latest Consumer Price Index (CPI) report. This marks a significant increase from the previous month's rate of 2.9%. The main contributor to this surge is the rise in gas prices, which have seen a notable spike.
The Federal Reserve's decision on interest rates is now more likely to be hiked following this inflation data. The odds of a rate hike are expected to jump as a result of the higher-than-expected inflation rate.