In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.
The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.
Friday's figures bring the final 2027 COLA calculation closer to completion.
The Labor Department's consumer price index held steady last month, rising as expected for the year ending in August.
The Federal Reserve's preferred inflation gauge surged to a three-year high in April, adding to growing concern at the central bank and on Wall Street over broadening price pressures. The Personal ...
Since early June, we've watched the time-tested Dow Jones Industrial Average (^DJI +0.98%), benchmark S&P 500 (^GSPC +0.86%), and technology-driven Nasdaq Composite (^IXIC +0.96%) catapult to record ...
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The number matched analyst expectations and was even with July’s 3.4%.