Inflation picked up last month as gas prices jumped in wake of Iran war
Inflation in the U.S. has accelerated, driven largely by rising gas prices following renewed fighting in the Middle East involving Iran. Both wholesale and consumer inflation picked up in August, with underlying inflation also increasing notably. The Federal Reserve is expected to raise interest rates next week in response. High gas prices are creating affordability challenges for consumers ahead of midterm elections.
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The story so far
4 developments- Sep 10Wholesale inflation picked up in August, as energy costs kept rising
- Sep 11Only center coverage:Inflation picked up last month as gas prices jumped in wake of Iran war
- Sep 11Only center coverage:Even a cooler inflation report may not be enough to keep the Fed from raising rates next week
- Sep 11U.S. consumer inflation picks up in August as gas prices surge
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Quiet for 18 daysLast development · Sep 11 — U.S. consumer inflation picks up in August as gas prices surge
The bigger story
Left
10 viewpointsAmerica In Focus: inflation accelerated in August, home sales weaken and diesel prices soar
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U.S. consumer inflation picks up in August as gas prices surge
Center
15 viewpointsAmerica In Focus: inflation accelerated in August, home sales weaken and diesel prices soar
Consumer prices rose 3.4% annually, fueling talk of imminent Fed rate hikes
US inflation held steady at 3.4% in August as high fuel prices persist
Right
7 viewpointsConsumer prices remained elevated in August ahead of Fed's next meeting
Other outlets
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1 articleUS consumer prices stayed high in August as Iran war pushed energy costs up
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