U.S. inflation picked up speed in August on surging energy prices
- Elevated oil prices pushed U.S. energy prices higher.
- But broader inflation pressures have continued to ease south of the border.
- Rent, one of the main contributors to inflation, has slowed on a month-over-month basis.
- And excluding rent, the U.S. Fed’s preferred ‘core’ inflation measure still-below pre-pandemic trend levels.
- Wage growth remains stubborn at 5% to 6%, despite an easing in overall price pressures.
See our Canadian Inflation Watch here.
This article was originally published on RBC.com. To read the full article and previous updates, click here.
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