Inflation Surges Above Expectations Despite Fed’s Rate Hikes
Inflation rose significantly in August, marking the second month in a row that inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday. The Consumer Price Index (CPI), a…
Inflation rose significantly in August, marking the second month in a row that Inflation has ticked up, according to the latest Bureau of Labor Statistics (BLS) release on Wednesday.
The Consumer Price Index (CPI), a broad measure of the prices of everyday goods, increased 3.7%on an annual basis in August, compared to 3.2% in July, according to the BLS. Core CPI, which excludes the volatile categories of energy and food, remained high, rising 4.3% year-over-year in August, compared to 4.7% in July.
“This will be the second acceleration in a row, showing that Inflation is anything but dead,” E.J. Antoni, a research fellow at the Heritage Foundation’s Grover M. Hermann Center for the Federal Budget, told the Daily Caller News Foundation. “Although we’ve been told that Inflation