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Day 967

1/ Inflation accelerated for a second consecutive month – the fastest pace in more than a year – due to a jump in gasoline prices, which accounted for more than half of the increase. Consumer prices rose 0.6% in August from the prior month – the most since inflation peaked at a four-decade high in June 2022 – and up 3.7% from a year earlier. Although prices climbed at a faster monthly pace than expected, the report keeps Federal Reserve officials on track to hold interest rates steady next week after raising rates to a 22-year high in July. The Fed has two more meetings this year – in early November and mid-December – and their decision on whether to lift rates higher will depend on whether price increases continue to slow in coming months. (Wall Street Journal / Bloomberg / New York Times / USA Today / CNBC / ABC News / NBC News / Politico)

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