Summary
U.S. inflation increased in August, marking the fastest rise since the start of the year. This comes before a significant Federal Reserve meeting where officials will decide on changing interest rates.
Key Facts
- U.S. inflation rose to 2.9% in the year to August, up from 2.7% in July.
- The increase in consumer prices is the fastest since the beginning of 2023.
- The U.S. Federal Reserve will soon meet to decide whether to change interest rates.
- The Federal Reserve has not changed interest rates since last year.
- The impact of President Donald Trump's import tariffs on prices is still under consideration by policymakers.
- President Trump has criticized the Federal Reserve for not lowering rates as quickly as central banks in the UK and Europe.
