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US consumer inflation remained unchanged at 3.4% in the year to August, matching economists’ expectations and July’s reading. However, the latest figures contained a warning sign beneath the stable annual rate: prices increased 0.4% during the month, marking the fastest monthly rise since May and suggesting that the escalating energy shock is beginning to filter through the US economy. The figures, released by the US Bureau of Labor Statistics on Friday afternoon, represent t

A sharp increase in fuel prices pushed US inflation to its highest annual rate in three years in May, according to data released by the Labour Department on Wednesday, reinforcing expectations that the Federal Reserve may need to keep interest rates elevated for an extended period. Consumer prices rose 4.2% in May compared with the same month a year earlier, accelerating from 3.8% in April and marking the third consecutive monthly increase in annual inflation. On a month-to