Inflation hits 8.3% in August as Fed mulls super-size rate hike
The August reading of the Labor Department’s Consumer Price Index, a closely watched measure of the costs of goods and services, rose 0.1% compared to July — surprising economists who had expected a slight month-over-month decline.
Both Fed Chair Jerome Powell and other top officials at the central bank have made clear that they plan to continue with rate hikes until inflation begins to meaningfully recede. Prices are still well above the 2% range for inflation that policymakers deem acceptable. The latest inflation report will factor into the conversation as Fed officials meet on Sept. 20 and 21 to discuss their next interest rate hike.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CPI rises 8.3% in August, consumers still squeezed by high pricesJUST IN: New inflation data shows prices rose slightly in August, worsening the cost woes for U.S. households as the Federal Reserve readies to decide on another interest rate hike next week.
Read more »
High-stakes inflation report expected to show prices slowed in August but remain elevatedThe August inflation data out Tuesday morning is expected to show that consumer prices slowed in August, but that likely won't be enough to mollify the Federal Reserve.
Read more »
Stock Futures Rise Ahead of Inflation DataU.S. stock futures inched higher ahead of fresh inflation data that could help determine the speed and pace of future interest-rate increases
Read more »
First Coast housing permit numbers rise in August - Jacksonville Business JournalWondering where the market is going? Here's what the numbers show.
Read more »
Turkish automotive production shrinks 13.3% in AugustProduction in Turkey's automotive sector declined 13.3% year-on-year in August to 92,625 vehicles, with exports falling 21.9% to 64,515, the Automotive Manufacturers Association (OSD) said on Sunday.
Read more »