US inflation rose to 2.9 per cent in August, underlining the Federal Reserve’s challenge ahead of a high-stakes decision on interest rates next week.
Thursday’s annual consumer price index figure from the Bureau of Labor Statistics was above July’s 2.7 per cent and in line with the 2.9 per cent forecast by analysts in a Bloomberg poll.
Core inflation held steady at 3.1 per cent, in line with expectations.
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