From ScottW@21:1/5 to All on Wed Sep 13 08:23:19 2023
An 11% increase in gas prices in August fueled a chilling surge in consumer price index inflation, which rose to 3.7% for the year ending last month. That's up from 3.2% in July and nearly twice the Federal Reserve's maximum inflation target of just 2%
annually.
Between August's CPI print and core PCE inflation increasing in July for the first time since January, there's no doubt about it: The worst inflation crisis in 40 years, which seemed to be abating earlier in the summer, is heating up again.