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 ...
This voice experience is generated by AI. Learn more. This voice experience is generated by AI. Learn more. Persistent inflation above 2% continues to challenge household finances, eroding ...
The number matched analyst expectations and was even with July’s 3.4%.
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