Consumer prices rose in August compared to July, according to new data from the Department of Labor.
Inflation ticked up in August, largely due to an increase in the price of gasoline, raising concerns about potential Federal Reserve action on interest rates . PULSE POINTS WHAT HAPPENED: Consumer prices rose in August compared to July, according to new data from the Department of Labor. DETAIL: According to the new data released on Friday, consumer prices rose 0.4 percent in August, largely due to a 3.9 percent increase in gasoline prices, which surged 27.4 percent over the year. Meanwhile, grocery prices increased 2.2 percent, and electricity prices decreased 0.2 percent in August. Over the past year, the Consumer Price Index (CPI) increased by 3.4 percent, matching the annual rise reported in July. Core inflation, which excludes the…Open
The record price of diesel threatens to stoke inflation at a time when consumers are already price-sensitive and businesses are reeling from higher costs due to trade tensions. Why it matters: Diesel is a key cost throughout the supply chain, meaning soaring prices could eventually show up in what consumers pay for everything from groceries to household goods. Driving the news: The national average price of a gallon of diesel topped $6 for the first time ever, AAA said Friday, Axios' Ben Berkowitz reports . - That's up 60% from a year earlier. Between the lines: Food prices could be among the first places consumers feel the ripple effects, executives said this week. - At grocery chain Kroger, which has been trying to keep a lid on…
MS NOW's Lawrence O'Donnell is joined by Alaska's Democratic Senate nominee Mary Peltola who discusses her campaign for the critical U.S. Senate seat in her state and the huge issue of fuel costs in her state -- something made so much worse by Donald Trump's war of choice in Iran.
The Energy Department's statistics arm on Wednesday sharply raised its forecast for U.S. diesel prices next year as tight global supplies keep domestic inventories unusually low. Why it matters: The outlook suggests Americans could face elevated fuel costs well into 2027, as President Trump acknowled Wednesday that oil prices may not fall until after November's midterm elections. - U.S. diesel prices hit all-time highs this month, due to the Middle East conflict thwarting oil and petroleum product supplies, and Ukraine's drone campaign targeting Russian refineries . Driving the news: The latest Energy Information Administration outlook expects retail diesel to average $4.40 a gallon in 2027, up 33 cents, or 8.2%, from its previous…
State of the Union: As tit-for-tat fighting continues, Tehran appears more willing to escalate. The post Iran War Day 194: Oil Hits $100 Per Barrel appeared first on The American Conservative .
The price of Brent crude hit $100 per barrel Wednesday morning after heavy fighting between the U.S. and Iran. That’s the highest level since late July for the key international benchmark. U.S. Central Command said Tuesday evening it had struck Iranian assets: “CENTCOM forces destroyed five Iranian crude oil carriers, Sept. 8, after the Islamic Revolutionary Guard Corps (IRGC) targeted a U.S. Navy warship with ballistic missiles twice over the past two days.” The IRGC, a force in the Iranian military, painted a different picture of its own preceding attacks, saying it had successfully damaged two warships in ballistic missile strikes. After the U.S. strikes on Tuesday, Iran launched missiles at Jordan, which hosts American…Open
The average price for a gallon of gas in the U.S. was $4.22 on Wednesday. California drivers were paying the highest, and Indiana drivers were paying the lowest.
