
Inflation data released by the Consumer Price Index (CPI) shocked the markets, sending the leading benchmark indices into a downward spiral.
According to the Bureau of Labor Statistics, the annual inflation rate fell from 8.5 percent in July to 8.3 percent in August. A rate of 8.1 percent was expected by the market.
Americans are seeing price reductions at the gas pump, but not in other areas, including grocery stores, according to recent data released by the Bureau of Labor Statistics (BLS). There has been an overall increase across the board apart from the energy index.
It was the highest level since March in August for the core inflation rate, which excludes volatile food and energy indexes.
The Federal Reserve is almost certain to raise the federal funds rate by at least 75 basis points at its policy meeting next week due to the hotter-than-expected increase in core inflation, according to economists, which means that large rate hikes will probably have to continue until the year's end.
Households in the U.S. continue to feel the effects of inflation. The latest inflation report shows the following changes:
17 September 2022
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