Gasoline likely to boost US consumer prices in August
Economists expect a 0.4% monthly rise as gasoline prices climbed and markets priced in a 70% chance of a Fed rate hike.
- On Friday, the Labor Department will release the Consumer Price Index report, which economists expect to show August inflation accelerated as gasoline prices rebounded from two straight monthly declines.
- Persistent price pressures stem from war-induced energy shocks and import tariffs that RSM chief economist Joe Brusuelas said are "proving to be more enduring" as the administration uses them for political objectives.
- In the 12 months through August, consumer inflation is forecast to reach 3.4%, matching July's gain, while core CPI is expected to have increased 0.2% after a similar rise in July.
- With oil prices climbing above $100 a barrel, financial markets are pricing in a 70% chance of a 25-basis-point rate hike at the Federal Reserve's September 15-16 policy meeting.
- President Donald Trump is pressuring the Fed to cut rates, posting on social media last week: "LOWER THE RATE OR I'LL STOP TRADING WITH COUNTRIES WITH WHICH WE HAVE A DEFICIT.
13 Articles
13 Articles
Economy: Direct - Acceleration of consumer price growth in the United States during August, driven by rising gasoline prices after falling over two consecutive months, which enhanced expectations...
American inflation accelerated again in August, primarily due to the rise in gasoline prices, which had been falling for the previous two months. Consumer prices increased by 0.4 percent compared to July, when their growth was 0.1 percent, while annual inflation remained at 3.4 percent. The data is in line with expectations...
US consumer prices are rising again faster. Petrol was responsible for more than a third of the monthly increase – just before the Fed's interest rate decision.
Forbes, the world's most renowned business and economic magazine. The consumer price index rose 0.4% last month, after discharge of 0.1% in July, reported this Friday the Office of Labor Statistics The post Consumer Inflation in the USA Accelerates in August and Increases Expectation of High Interests apareceu primeiro em Forbes Brasil.
Inflation in the United States accelerated sharply in August.
Coverage Details
Bias Distribution
- 100% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
