The annual inflation rate in the United States accelerated in August, reaching its highest level since January, after holding steady at 2.7% in June and July.
The Consumer Price Index (CPI) increased by a seasonally adjusted 0.4% last month, double the previous month, bringing the annual inflation rate to 2.9%, compared to expectations of 0.3% and 2.9%, respectively.
Core inflation, which excludes volatile food and energy prices, rose 0.3% in August, the same as in July, as prices for airline tickets, used and new cars, and clothing rose.
Data from the U.S. Bureau of Labor Statistics showed Thursday that core inflation over the 12 months ending in August rose by 3.1%, matching expectations.
The energy index rose 0.7% on a monthly basis, with gasoline prices rising by 1.9%, contributing to the monthly inflation rate
