{"id":109950,"title":"US inflation surpasses forecasts due to increasing fuel costs.","publisher":"Share Talk","author":"sharetalk","published":"2023-09-13T14:50:08+00:00","modified":"2023-09-13T14:50:08+00:00","canonical_url":"https://www.share-talk.com/us-inflation-surpasses-forecasts-due-to-increasing-fuel-costs/","markdown_url":"https://www.share-talk.com/us-inflation-surpasses-forecasts-due-to-increasing-fuel-costs.md","json_url":"https://www.share-talk.com/us-inflation-surpasses-forecasts-due-to-increasing-fuel-costs.json","category":"B2B","categories":["B2B","Blogs","Business & Support Services","Technology","Technology, Media & Telecoms"],"tags":["Benchmark","CME Group","Fed","Federal Reserve","futures","Goldman Sachs","lending","Traders","USA"],"featured_image":"https://i0.wp.com/www.share-talk.com/wp-content/uploads/2022/03/st-holder.jpg?fit=1536%2C1024&quality=89&ssl=1","format":"news","language":"en-GB","content":"The US experienced a higher-than-anticipated inflation rate in August, presenting a challenge for the Federal Reserve as they prepare for the upcoming policy meeting.\n\nThe Bureau of Labor Statistics indicated that consumer prices surged 3.7% year-on-year, a rise from July’s 3.2% and surpassing the predicted 3.6%. Prices rose by 0.6% on a month-to-month basis.\n\nGasoline prices accounted for over half of this monthly hike.\n\nWhen excluding the unpredictable costs of food and energy, core inflation marginally exceeded expectations, with a 0.3% increase month-on-month (projected at 0.2%). This positions the annual rate at 4.3%, consistent with predictions, but down from 4.7% in July.\n\nAndrew Hunter, the deputy chief US economist at Capital Economics, believes the Federal Reserve may disregard August’s 0.6% monthly surge in the headline CPI, attributing it to the recent spike in energy costs.\n\nHe notes, “Even though the core prices saw a modest rise of 0.3% month-to-month, the data doesn’t strongly suggest that the Fed should consider increasing interest rates.”"}