U.S. Inflation Hits 2.9% in August; In Line With Expectations

U.S. consumer prices rose 2.9% in August, up from July’s 2.7%, according to the latest CPI data from the Bureau of Labour Statistics. The increase matches Bloomberg analyst expectations and highlights the ticking up inflation in the states. However, the number is still higher that the Federal Reserve’s 2% estimate. Today’s data highlights persistent challenges ahead of next week’s high-stakes interest rate decision. Core inflation remained steady at 3.1%, showing underlying price pressures persist even as headline figures fluctuate. The Fed will need to weigh these numbers carefully in its next move.