In August, US consumer prices rose by 3.4% year-over-year, maintaining the same level as in July. The monthly CPI increased by 0.4%, marking the highest monthly growth in three months. Gasoline prices, which surged by 3.9%, contributed to over one-third of this monthly rise.
Core CPI increased by 0.3% month-over-month, while its annual rate decreased to 2.4% from 2.5% in July. Producer prices also showed upward momentum, rising 0.4% in August and 5.4% compared to the previous year.
The Federal Reserve is scheduled to meet on September 15–16 to discuss potential rate adjustments. Currently, the policy rate remains in the 3.50% to 3.75% range. Futures markets indicate a 70% probability of a 25-basis-point hike.
Should the central bank implement a 25-basis-point increase, the policy rate will reach the 3.75% to 4.00% range. Inflation has remained above the Fed's 2% target for over five years, driven by high shelter costs and energy market instability.
