Prices climbed slightly in August as Fed weighs interest-rate increase
Consumer prices rose 0.4% in August after rising 0.1% in July, driven by surging fuel costs from the war against Iran, the government said in a closely watched update.
TL;DR
- Consumer prices rose 0.4% in August.
- This follows a 0.1% increase in July.
- Surging fuel costs, linked to the war against Iran, drove the increase.
- The government provided this update.