Inflation Ticks Higher , Despite Fed's Ongoing Effort, to Bring Down Consumer Prices.<br />According to the latest Bureau of Labor Statistics report, consumers in the United States saw <br />prices increase by 3.7% in August. .<br />NBC reports that inflation rose at <br />a faster pace than in July, increasing<br />by 0.6% compared to 0.2%.<br />Ahead of the latest data, <br />economists predicted a 3.6% overall <br />increase in inflation compared to 2022. .<br />Following 12 consecutive months <br />of decline, annual inflation has been<br />on the rise for two months in a row. .<br />Core inflation also rose 4.3%, <br />matching economists' estimates.<br />NBC reports that gas prices increased <br />10.6%, driving up transportation costs. .<br />However, core inflation dropped <br />from 4.7% to 3.2% year-over-year.<br />If you look at what’s going on <br />underneath the surface, <br />core inflation continues <br />to gradually cool. , David Kelly, chief global strategist for <br />J.P. Morgan Asset Management, via NBC.<br />I don’t think people should <br />look at it as some kind of <br />revival of inflation pressure, David Kelly, chief global strategist for <br />J.P. Morgan Asset Management, via NBC.<br />NBC reports that the latest data <br />suggests that the Federal Reserve's efforts <br />to bring down inflation may be working. .<br />The Fed is in the last mile of a two-year <br />marathon, and I think there is nothing to <br />gain if they give up before the finish line, Beth Ann Bovino, chief economist for U.S. Bank, via NBC
