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US inflation held steady in August, still above Fed's target
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On September 11, the Washington Post reported that the U.S. Department of Labor's Consumer Price Index (CPI) data showed year-over-year inflation in August remained unchanged, meeting market expectations. Persistent high inflation over consecutive months has left Americans disappointed with the economy. Rising energy prices and continued moderation in rent growth jointly influenced overall inflation. Housing price increases have recently slowed. UBS analysts forecast that housing cost growth will 'continue decelerating for approximately another year.' U.S. inflation has exceeded the Federal Reserve's 2% annual target for more than five consecutive years.
Source report
September 11 — According to a report by The Washington Post, the Consumer Price Index (CPI) data released by the U.S. Department of Labor showed that year-over-year inflation in August remained unchanged, meeting market expectations.
Persistent high inflation in August, following a series of consecutive monthly year-over-year increases, has left Americans disappointed with economic conditions. Rising energy prices and continued moderation in rent growth have jointly influenced overall inflation performance. Housing price increases have recently slowed.
Analysts at UBS noted that housing cost growth is expected to “continue decelerating for approximately another year.”
Currently, U.S. inflation has exceeded the Federal Reserve’s 2% annual target for more than five consecutive years.
Source
thsWestern