U.S. inflation picked up in August on surging energy prices

18 septembre 2023 | Claire Fan and Abbey Xu


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RBC Economics provides a monthly analysis of the key indicators on price trends in the United States.

U.S. inflation picked up in August on surging energy prices

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.





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This article was originally published on RBC.com. To read the full article and previous updates, click here


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