Forex
US Inflation Surges Amid Middle East Tensions
US inflation accelerated in August due to rising gas prices amid tensions in the Middle East. The Labor Department reported that the consumer price index rose by 3.4% compared to last year, with a monthly increase of 0.4%. This is the same rate as July's annual inflation, but indicates that inflation remains a challenge for the Federal Reserve.
The core prices, excluding food and energy categories, saw a slight decline in August, reaching 2.4% higher than last year. However, on a monthly basis, core prices rose by 0.3%, the largest increase since April.