Rising petrol costs drive sharp inflation increase in US in August
- Petrol prices jumped 3.9 percent month-to-month, accounting for one-third of the overall inflation increase in August.
- United States consumer prices jumped in August, marking the largest monthly increase in four months, in advance of the Federal Reserve’s policy meeting as expectations for an interest rate hike continue to rise.
- Consumer prices rose 0.4 percent last month, following a 0.1 percent increase the month before, according to the US Department of Labor’s Consumer Price Index (CPI) report released on Friday.
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- Petrol prices jumped 3.9 percent month-to-month, accounting for one-third of the overall inflation increase in August.
- United States consumer prices jumped in August, marking the largest monthly increase in four months, in advance of the Federal Reserve’s policy meeting as expectations for an interest rate hike continue to rise.
- Consumer prices rose 0.4 percent last month, following a 0.1 percent increase the month before, according to the US Department of Labor’s Consumer Price Index (CPI) report released on Friday.
Sources: Al Jazeera