NEW YORK (Reuters) - U.S. consumer prices increased by the most in more than a year in August amid a surge in the cost of gasoline, but a moderate rise ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOSNEW YORK - U.S. consumer prices increased by the most in more than a year in August amid a surge in the cost of gasoline, but a moderate rise in underlying inflation could encourage the Federal Reserve to keep interest rates on hold next Wednesday.
The consumer price index increased by 0.6%last month, the largest gain since June 2022, the Labor Department said on Wednesday. The CPI had risen 0.2% for two straight months. Excluding the volatile food and energy components, the CPI increased 0.3% amid declining prices for used cars and trucks. The so-called core CPI had increased 0.2% for two consecutive months.FOREX: The dollar index fell 0.01% to 104.560
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