-
US inflation pressures stubborn as fuel prices rise
Consumer prices in the US rose by more than expected last month, driven by higher costs for rent and fuel. The inflation rate, which measures the pace of price rises, was 3.7% over the 12 months to August, the Labor Department said, up from 3.2% in July. The figures underscore the challenges facing officials trying to stabilise prices, which soared last year at the fastest pace in decades. The inflation rate has dropped significantly from its peak last year. But analysts said the US central bank, which aims to keep inflation at 2%, is likely to be aware of the risk that the problem has not been resolved. The bank has ... (full story)