Consumer price index unexpectedly climbed 8.3% in August
The Labor Department said Tuesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 8.3% in August from a year ago. Prices climbed 0.1% in the one-month period from July.
Those figures were both higher than the 8.1% headline figure and 0.1% monthly decline forecast by Refinitiv economists, a worrisome sign for the Federal Reserve as it seeks to cool price gains and tame consumer demand with an aggressive interest rate hike campaign. Stock futures tanked on the surprisingly hot report, with the Dow Jones Industrial Average down more than400800 points.
3 comments:
KD
The US Media has been carrying the Biden lies.
There parroting of lower inflation just got kicked in the teeth (* hat tip to Cali. For posting the link).
As inflation "unExpectedly " came in at a 🔥 8.3%.
Federal Reserve looks at a 75 basis point to a Full 1 point.
Biden took a victory LAP over inflation today .
He is a disgrace.
Wait until Biden finishes draining our strategic oil reserve which is keeping prices artificially low..
we are fucked
by the "big guy"
if the FBI can ever figure out who that is
The market was so impressed with Dementia Joe’s speech on inflation it tumbled 1276
Way to go Donks
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