US inflation rate
Inflation seems to be accelerating again in the US with August’s latest reading. Higher energy prices, along with increases in the prices of other goods, worked to push the consumer price index (CPI) up 0.6% for the month, registering its highest monthly increase for 2023 thus far. On a year-on-year basis, the increase came in at 3.7%, slightly higher than the forecast of 3.6% by a panel of economists surveyed by Dow Jones. Both numbers were higher than the 0.2% and 3.2% recorded back in July. However, stripping out the volatile food and energy prices and focusing on core inflation alone, the numbers did not look so bad. Core inflation increased by just 0.3% in August, just slightly above the 0.2% logged in July and was also a tad higher than estimates for a 0.2% rise. These numbers will be digested by the US Federal Reserve to determine the path of interest rates moving forward....Welcome to the latest edition of top stock market highlights.
