U.S. CPI rose by 8.3% on-year in Aug.

美 8월 소비자물가, 예상넘은 8.3%↑…3연속 자이언트스텝 무게

We begin as fresh data shows that U.S. consumer prices saw another jump last month,... dashing hopes of a nascent slowdown with gas prices plunging recently.
That's right, and on the back of the report,... pundits are predicting another historically large interest-rate hike coming from the country's central bank.
And there was more bad news as U.S. stocks reacted with a sharp downturn on Tuesday.
Kim Hyo-sun starts us off.
The U.S. consumer price index unexpectedly rose by 8-point-3 percent on-year in August.
According to data released by the Bureau of Labor Statistics on Tuesday,... the core CPI,... which excludes volatile food and energy costs,... climbed 6-point-3 percent from the same month last year.
This was a point-1 percent increase in overall inflation from July,... while core inflation rose point-6 percent on-month.
Pundits had been expecting a decline of point-1 percent for overall inflation,... with a rise of point-3 percent for core inflation.
They now believe that the U.S. central bank will remain aggressive in its tightening of monetary policy.
The inflation report was one of the last pieces of information on inflation that the Fed will see prior to its September meeting,... where policymakers are expected to deliver their third consecutive zero-point-7-5 percentage point rake hike to curb inflation.
Despite concerns that continued rate hikes may tip the country's economy into recession,... Fed Chair Jerome Powell stressed last week that he is "strongly committed" to bringing inflation down.
Following the release of the August inflation report,... U.S. stocks fell sharply on Tuesday.
The Dow Jones Industrial Average slid nearly 4 percent,... while the S&P 500 and the tech-heavy Nasdaq sank by more than 4 and 5 percent, respectively.
Only five stocks in the S&P 500 ended the day in positive territory.
Kim Hyo-sun, Arirang News.

#consumer_prices #United_States #Arirang_News

2022-09-14, 08:00 (KST)

[hihikats]

Truth. A great example of manipulation is how this presidency has spun the latest CPI report. Almost every KPI was up for August and without the significant impact releasing the strategic reserves FORCED down this inflationary average. Remember that this action is only temporary and soon, the surge of surplus oil flooding the markets will go dry, and then what?

Take a look for yourself for validation but it’s clear to see that inflation reporting is being massively manipulated and the underlying currents are still substantial price increases.