XPost: sci.geo.petroleum, alt.politics.economics, alt.politics.republicans   
   XPost: alt.fan.rush-limbaugh, talk.politics.guns, sac.politics   
   From: democrat-criminals@mail.house.gov   
      
   https://finance.yahoo.com/news/inflation-accelerated-in-august-as-oil-   
   prices-surged-123228949.html   
      
   Consumer prices edged higher in August as a surge in oil prices   
   contributed to an uptick in headline inflation, according to the latest   
   data from the Bureau of Labor Statistics released Wednesday morning.   
      
   The Consumer Price Index (CPI) rose 0.6% over last month and 3.7% over the   
   prior year in August, an acceleration from July's 0.2% monthly increase   
   and 3.2% annual gain in prices.   
      
   The year-over-year increase was slightly higher than economist forecasts   
   of a 3.6% annual jump, according to data from Bloomberg.   
      
   A significant rise in energy prices drove the bulk of those increases. Oil   
   prices hit new year-to-date highs on Tuesday with West Texas Intermediate   
   (CL=F) closing just below $89 per barrel. Brent crude futures (BZ=F) sat   
   above $92 per barrel — the highest levels in oil prices since November   
   2022.   
      
   On a "core" basis, which strips out the more volatile costs of food and   
   gas, prices in August climbed 4.3% over last year — a slowdown from the   
   4.7% annual increase seen in July, according to Bloomberg data. Monthly   
   core prices rose 0.3%, slightly higher than economist expectations of a   
   0.2% month-over-month gain and also higher than July's 0.2% monthly rise.   
      
   The energy index decreased 3.6% for the 12 months ending in August on an   
   unadjusted basis, although prices increased 5.6% on a seasonally adjusted   
   month-over-month basis after rising just 0.1% in July.   
      
   Gas prices rose 10.6% in August following a 0.2% increase in the previous   
   month.   
      
   Within core inflation, rent prices continued to surge. The index for rent   
   and owners' equivalent rose 0.5% and 0.4% on a monthly basis,   
   respectively. Owners' equivalent rent is the hypothetical rent a homeowner   
   would pay.   
      
   The shelter index was the largest factor in the monthly increase of core   
   inflation, increasing 0.3% month-over-month and 7.3% over the last year.   
   Still, both of those measures were down compared to July's 7.7% annual   
   gain and 0.4% monthly jump.   
      
   Other indexes that rose in August included motor vehicle insurance,   
   medical care, and personal care, BLS noted.   
      
   The indexes for lodging away from home, recreation, and used cars and   
   trucks were among those that decreased over the month. The monthly prices   
   for used cars and trucks dropped another 1.2% in August after seeing   
   prices fall 1.3% in July.   
      
   The food index increased 4.3% in August over the last year, with food   
   prices rising 0.2% from July to August. The index for food at home   
   increased 0.2% over the month, after rising 0.3% in July.   
      
   The index for meats, poultry, fish, and eggs rose 0.8% in August as the   
   index for pork increased 2.2%. The index for other food at home increased   
   0.2% over the month and the index for cereals and bakery products rose   
   0.5%, according to the BLS.   
      
   Egg prices, however, fell another 2.5% month-over-month after dropping   
   2.2% in July and 7.3% in June.   
      
   US stocks edged lower in early trading following the release of the data.   
   Treasury yields jumped about 9 basis points to trade around 4.3%.   
      
   To hike or not to hike?   
      
   Inflation has remained significantly above the Federal Reserve's 2%   
   target. That, along with the upward pressure in oil and a labor market   
   that, while softening, is still tight, adds to concerns that the Federal   
   Reserve could continue to raise interest rates later this year.   
      
   But markets still expect the central bank to pause its hikes at its   
   meeting later this month. Following the release of the data, markets were   
   pricing in a roughly 95% chance the Federal Reserve keeps rates unchanged   
   at its Sept. 20 policy meeting, according to data from the CME Group.   
      
   The central bank raised rates by another 0.25% in July after pausing its   
   aggressive rate-hiking cycle in June.   
      
   "In our view, the economy maintains decent momentum but is showing signs   
   of slowing, and thus the Federal Reserve is likely to pause next week and   
   wait for additional data to unfold for the November meeting," Brian   
   Pietrangelo, senior vice president and managing director of investment   
   strategy at Key Private Bank, wrote in a reaction to the report.   
      
   Seema Shah, chief global strategist at Principal Asset Management, agreed   
   but warned one more rate hike is still possible before the end of the   
   year: "The inflation print likely is not enough to tilt next week’s Fed   
   call towards a hike, yet it also hasn’t entirely cleared up the question   
   of a November pause vs. hike."   
      
   "The rise in headline should come as no surprise given the recent run-up   
   in energy prices and the Fed will likely look through the number… for   
   now," the economist continued. "But the general expectation was that core   
   inflation would remain stable, if not decelerate this month, so the upside   
   surprise probably leaves the Fed with a bad taste in its mouth and keeps   
   it wondering if it still has more work to do."   
      
   Multiple economists said the slowdown in shelter prices is a good sign for   
   the central bank, but that the higher increases seen in the prices of   
   services and core inflation will likely "keep the Fed in a defensive   
   stance," noted Eugenio Aleman, senior economist at Raymond James.   
      
   "The decline in core CPI (excluding food and energy prices) on a year-   
   over-year basis is also a good omen for the Fed," Aleman said. "However,   
   the decision for next week’s FOMC meeting will not be one to take lightly,   
   especially because core CPI was higher than expected and because oil   
   prices have continued to increase in September."   
      
      
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   We live in a time where intelligent people are being silenced so that   
   stupid people won't be offended.   
      
   Durham Report: The FBI has an integrity problem.  It has none.   
      
   No collusion - Special Counsel Robert Swan Mueller III, March 2019.   
   Officially made Nancy Pelosi a two-time impeachment loser.   
      
   Thank you for cleaning up the disaster of the 2008-2017 Obama / Biden   
   fiasco, President Trump.   
      
   Under Barack Obama's leadership, the United States of America became the   
   The World According To Garp.  Obama sold out heterosexuals for Hollywood   
   queer liberal democrat donors.   
      
   President Trump boosted the economy, reduced illegal invasions, appointed   
   dozens of judges and three SCOTUS justices.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)