US Consumer Inflation Rises 2.9%, Highest In Seven Months - Will Fed Still Cut Interest Rates?
(MENAFN- Live Mint) US consumer inflation rose to its highest this year after January, government data showed on Thursday. The US consumer inflation, highest in seven months, rose more than what was expected by analysts.
The US Consumer Price Index shot up by 2.9 per cent in August, data showed. This is a 0.2 per cent increase from July, when inflation rose 2.7 per cent year-on-year.
According to a poll by Reuters, economists had predicted that US August inflation would rise 0.3 per cent and increase 2.9 per cent on a year-over-year basis.
(This is a developing story. Check back for updates)
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