This year’s inflation in the US increased at the highest level after January, the government data showed on Thursday. American consumer inflation, the highest in seven months, has grown more than analysts.
The US consumer price index increased by 2.9 %in August, the data showed. This is an increase of 0.2 % from July, when inflation increased by 2.7 % year -on -year.
According to Reuters survey, economists predicted that the US inflation would increase by 0.3 % and increase 2.9 % year -on -year.
The inflation was high because the prices of gas, food, hotel rooms and tickets fired along with the cost of clothing and used cars.
According to data from the main prices of the Ministry of Labor, they increased by 3.1 % except volatile categories of food and energy.
Both numbers are higher than the US Federal Reserve Inflation System of 2 %.
Within 12 months until August, the so -called basic CPI inflation increased by 3.1 %. This followed a year -on -year increase of 3.1 % in July.
President Donald Trump’s US tariffs were gradual, but prices could accelerate in the coming months, as companies have now exhausted their pre -market supplies. Business surveys have been signaling for some time an immediate increase in prices.
“The evidence is stunning that more inflation comes to the tariff, although it may be a few more months before it is fully going through,” said Stephen Stanley, the chief economist of Santander USA Capital Markets.
According to a press agency, the latest US information on CPI inflation could be worried about stagflation after the recent downbeat newspaper on the labor market.
Markets set for mute open
The main indices of Wall Street were set to subdued on Thursday after the latest US data about consumers’ inflation.
“Inflation is reinforced, not as much as we expected, but still reinforcement … in a way to spend it,” quoted Gary Schlossberg, a global strategist at the Wells Fargo Institute, Reuters.
Will the Fed rates be reduced now?
According to Reuters, it is not expected that the US CPI data will prevent significant reduction in interest rates from the federal reserve system next week against the background of the labor market.
Reading is the latest information that the Fed will receive before its key meeting next week, when politicians are expected to reduce their short -term rate to approximately 4.1 % of 4.3 %. Despite the facts underlining the challenges the Fed faces because it is experiencing the tireless pressure of President Donald Trump to reduce rates.
Although inflation has checked higher, recent government reports have also shown that rent has slowed down sharply in recent months and was lower than previously estimated last year. The unemployment rate was ticked at 4.3 %in August. And weekly unemployment demands increased sharply last week, the signaling of the sign can be released.
(Tagstotranslate) US consumer inflation
