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Prisveksten i USA holdt seg på 3,4 prosent i august

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Prisveksten i USA holdt seg på 3,4 prosent i august

The rate of price increases (KPII USA) in the United States was expected to remain at 3.4 percent in August, mirroring the figure from the previous month of July. Core inflation was anticipated to settle at 2.4 percent, down from 2.5 percent the previous month. This index excludes energy and food prices. The surge in energy prices due to the Iran war has contributed to the overall rise in prices over the past half-year.

Oil prices have surged, making fuel more expensive. Today's inflation figure could be crucial in determining what the United States Federal Reserve (Fed) will do next week, with decisions on interest rates scheduled for Wednesday evening. Confidence in rate cuts has continued to grow recently, including after surprisingly strong employment data last Friday.

Market sentiment had previously placed a 70 percent chance of a rate hike at around 70 percent. Long-term interest rates have further increased, driven by energy prices and expectations. Many economists have highlighted the high rate of price increases as the Fed's biggest concern, ahead of labor market conditions. Fed Chair Kevin Warsh emphasized the importance of price growth in his Jackson Hole speech, describing the figures as "more concerning" and noting that progress "has been modest" over the past two years.

Written by urgent.news from E24 Norway's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.

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