The Labor Department's August Consumer Price Index report showed core prices rising faster than economists predicted, a result that puts the Federal Reserve on a near-certain path toward another interest rate hike. Consumer prices jumped 0.4 percent in August compared with July, matching what forecasters expected for the headline number. But the detail that matters […] The post August consumer prices climb 3.4 percent as core inflation beats forecasts, raising pressure on the Fed appeared first on American Almanac .
The Labor Department's August Consumer Price Index report showed core prices rising faster than economists predicted, a result that puts the Federal Reserve on a near-certain path toward another interest rate hike. Consumer prices jumped 0.4 percent in August compared with July, matching what forecasters expected for the headline number. But the detail that matters most landed above the consensus: core prices, which strip out volatile food and energy costs, rose 0.3 percent for the month. Economists had forecast a 0.2 percent increase. That one-tenth-of-a-point miss carries real weight heading into next week's Fed meeting, because core inflation is the gauge policymakers watch most closely when deciding whether to tighten the screws on…Open
American Petroleum Institute CEO Mike Sommers joins 'Varney & Co.' to discuss oil and gas prices. President Donald Trump says he hopes to get gas below $2 per gallon. #foxbusiness #fox #varneyandco #mikesommers #api #americanpetroleum #oil #gasprices #energy #drilling #inflation #markets #usnews #economy #midterms
FOX Business correspondent Lauren Simonetti reports on the conflict in the Middle East as the U.S. and Iran traded strikes and the latest regarding oil prices on 'Varney & Co.' 00:00 - Regulatory constraints on autonomous vehicle production 00:09 - US and Iran trade strikes in major military escalation 00:38 - Kharg Island: Analyzing Iran's economic choke point 01:02 - How a US naval blockade impacts Iranian oil capacity 01:16 - Gasoline and US diesel prices surge
Gas prices have surged to a record high this Labor Day weekend as the Iran war continues. MS NOW Reporter Marc Santia shares how travelers are feeling. Editor-at-large at The Bulwark Bill Kristol joins Erielle Reshef to discuss.
The war in Iran has now cost U.S. consumers $100 billion in higher energy prices, and the bill is rising another $1 million about every two minutes, per a real-time estimate from Brown University as of Monday morning. Why it matters: Energy inflation shows up across the entire economy, and the recent surge in diesel prices in particular threatens to have a dramatic impact on freight and travel in the weeks and months to come. By the numbers: The Iran War Energy Cost Tracker from Brown's Watson School says higher gasoline and diesel prices have cost the average U.S. household more than $760 since the war began Feb. 28. - Most of that is gas, though the diesel burden is rising faster of late. - On Friday, diesel hit an all-time record…
