Inflation heated up
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MiBolsilloColombia on MSNFed faces tough call on September rate cuts with inflation at 2.9%
The Fed weighs interest rate cuts in September amid 2.9% inflation and a weakening labor market, with major implications for consumers.
The Consumer Price Index rose 0.4% M/M in August, topping the +0.3% consensus and accelerating from +0.2% in July, according to data released by the Bureau of Labor Statistics on Thursday.
Inflation is creeping higher, with some Americans saying they're squeezed: "It's really challenging"
The Consumer Price Index likely inched higher in August, reflecting higher costs for food and other items, economists say.
The cost of living continues to increase for Americans at a time when the job market appears to be on shakier footing, creating a complicated economic problem that could be tricky to solve.
The Federal Reserve is monitoring new inflation data as it weighs potential interest rate adjustments due to a shaky job market and ongoing economic challenges.
The U.S. economy is showing some strains after years of resilience, with domestic demand moderating and job growth slowing, the International Monetary Fund said on Thursday.