US Inflation Holds Steady Amid Energy Price Surge

The latest Consumer Price Index (CPI) data from the US Bureau of Labor Statistics shows that inflation remains steady at 3.4% annually, but has accelerated to a 0.4% monthly increase in August.

This is despite core inflation, which excludes food and energy prices, easing to 2.4% from 2.5% in July.

The surge in energy costs, particularly crude oil prices, which have risen above $100 a barrel due to the ongoing conflict involving the US and Iran, is the main driver of this increase.