Underlying US inflation unexpectedly picked up in Aug on higher prices for housing and travel, undercutting the chances of an outsize Federal Reserve interest-rate cut next week.
The so-called core consumer price index – which excludes food and energy costs – increased 0.3% from July, the most in four months, and 3.2% from a year ago, Bureau of Labour Statistics figures showed on Wednesday.Economists see the core gauge as a better indicator of underlying inflation than the overall CPI.
The so-called core consumer price index – which excludes food and energy costs – increased 0.3% from July, the most in four months, and 3.2% from a year ago, Bureau of Labour Statistics figures showed on Wednesday.Economists see the core gauge as a better indicator of underlying inflation than the overall CPI.
