August CPI Report Shows Inflation at 8.3%

Federal Reserve poised to again raise interest rates.

The Consumer Price Index for August shows inflation is up 8.3 percent from a year ago. Economists were expecting a lower number. The Labor Department released the report that indicates inflation is up by 0.1% from July. The CPI core numbers do not include food or energy. 

The Federal Reserve is continuing to consider additional increases in interest rates to address inflation which remains at the highest levels in more than four decades. A rate increase is anticipated to follow this latest report. 

As the Lord Leads, Pray with Us…

  • For members of the Federal Reserve Board as they consider raising interest rates again to curb inflation.
  • For officials in the Labor Department as they assess the economy and inflation status.
  • That the president and his advisors as they implement economic programs and strategies.

Sources: One America News, Washington Examiner


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