US inflation rose in August at the fastest pace since the beginning of the year ahead of a key Federal Reserve meeting where it will decide whether to cut or hold interest rates.
Consumer prices 2.9% in the year to August, up from 2.7% the previous month, according to the latest figures from the US Labor Department.
The US central bank has kept interest rates unchanged since last year as policymakers continued to monitor the effect of President Donald Trump’s import tariffs on consumer prices.
Trump and some of his allies have attacked the Fed for not cutting rates at the same pace as other central banks in, for example, the UK and Europe.
