US Inflation Rises Amid Middle East Conflict

U.S. inflation accelerated in August due to rising gas prices caused by conflict in the Middle East, a worrying trend for voters ahead of the midterm elections.

The Labor Department reported that the consumer price index rose 3.4% last month compared with a year ago, matching July's pace.

However, inflation quickened on a monthly basis, with costs jumping 0.4% from July to August, up from an increase of just 0.1% the previous month.