Tuesday, November 5

U.S. Inflation Inches Up To 3.7 Percent

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September 13, 2023—Consumer prices in the United States increased to an annual rate of 3.7 percent in August, up from 3.2 percent in July. Driving the CPI index higher was a spike in energy costs. Gasoline prices spiked by 10.5 percent from July to August while the cost of other fuels rose by 9.1 percent. Even so, energy prices decreased over the last year by 3.6 percent over the previous year. Meanwhile, food prices rose by only 0.2 percent in August and 4.3 percent over the past 12 months. The cost of used cars and trucks dipped while new vehicles cost slightly more.

Observers expect the U.S. Federal Reserve to leave interest rates as they are when board members meet September 19-20.

For specifics, see the Bureau of Labor Statistics release.

inflation, U.S. Inflation Inches Up To 3.7 Percent, Global Economic Report

Patti Mohr

Patti Mohr is a U.S.-based journalist. She writes about global diplomacy, economics, and infringements on individual freedom. Patti is the founder of the Global Economic Report. Her goal is to elevate journalistic principles and share the pursuit of truth in concert with others.

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