US Consumer Prices Rise 0.3%

The US Consumer Price Index rose 0.3 percent in August according to the latest news from the Labor Department. The increase is due mostly to higher energy and food prices and when these components are removed, prices remained stable.

These numbers won’t be a surprise to Fed policy makers,” said Yelena Shulyatyeva, a U.S. economist at BNP Paribas in New York. “They need to worry about unemployment and boosting growth and not worry about inflation.”

Source: Bloomberg

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