U.S. consumer prices up 0.1% in August
The numbers: Falling oil prices kept consumer inflation in check in August, but higher prices for staples such as health care, rent and airfares put more stress on the finances of U.S. households.
The increase in the cost of living has risen just 1.7% over the past 12 months, government figures show, largely because of a sharp drop in the cost of oil. The yearly increase in the so-called core rate advanced to 2.4%, matching a 13-month high. The last time the core rate of inflation was higher was in 2008.
Prices rose for medical care, including prescription drugs. The cost of medical care has risen in the past 12 months at the fastest pace in two and a half years.After adjusting for inflation, hourly wages jumped 0.4%. They have risen a solid 1.5% in the past year.Big picture: Inflation appears to be climbing back toward 2% or even higher after a big drop early in the year, but the Federal Reserve is still on track to cut interest rates next week.
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