Home Business U.S. Inflation Hits 2.9% in August, Markets Eye Fed Rate Cut

U.S. Inflation Hits 2.9% in August, Markets Eye Fed Rate Cut

By
Business Editor - Nikhil Bhatt
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82
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U.S. consumer inflation accelerated to 2.9% in August, its highest level since January, compared to 2.7% in July. Rising food and energy prices drove the increase. At the same time, unemployment rose as jobless claims jumped by 27,000 to 263,000 — the highest since October 2021. The dual challenge of

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