CPI Data Announced đš
The US inflation rate rose to a 13-year high of 3.7% in August, surpassing the market expectation of 3.6%. The main drivers of the increase were energy, food, shelter, and used cars and trucks. The core inflation rate, which excludes volatile items such as food and energy, also edged up to 0.3% in August, beating the forecast of 0.2%. On a monthly basis, the consumer price index (CPI) matched the expectation of 0.6%, while the core CPI was slightly higher than the anticipated 0.5%.
These figures indicate that the inflationary pressures in the US economy are still persistent, despite the Federal Reserve's view that they are transitory. The Fed has signaled that it will start tapering its bond-buying program later this year, but has not committed to a specific timeline or pace. The inflation data may influence the Fed's decision on when and how to reduce its monetary stimulus, which has implications for the global financial markets.
#economy #inflation #Fed #US #CPI #coreCPI
