Forex
US Inflation Holds Steady at 3.4% Amid Rising Energy Costs
US inflation remained steady at 3.4% in August, according to data from the US Department of Commerce.
The personal consumption expenditures price index, which tracks price trends for the Federal Reserve, rose 0.3% from July.
This monthly increase was faster than the 0.4% predicted by economists surveyed by FactSet, who also expected an annual inflation rate of 3.7%.
The acceleration in energy prices, particularly due to the war in Iran, contributed to this upward pressure on prices.