U.S. inflation posted its biggest monthly increase this year in August, as consumers faced higher energy prices and a variety of other elements.
The consumer price index rose 0.6 percent during the month and rose 3.7 percent year-on-year.
Excluding food and volatile energy, the core consumer price index rose 0.3 percent and 4.3 percent, respectively, versus estimates of 0.2 percent and 4.3 percent. Fed officials are more focused on fundamentals because they provide a better indication of where inflation is heading in the long run.
Source (Al-Arabiya.net Website, Edited)
