Housing Costs Fuel Jump in Core US Inflation The August US Consumer Price Index (CPI) report revealed an unexpected uptick in underlying inflation, primarily driven by rising shelter costs. Core CPI, which excludes food and energy, increased 0.3% from July and 3.2% year-over-year, surpassing economist expectations. Shelter prices, particularly owners’ equivalent rent, saw significant gains, contradicting predictions of a slowdown. While overall inflation eased to 2.5% annually, the persistence of housing-related inflation and increases in categories like airfares offset declines in energy and used vehicle costs. This report has implications for the Federal Reserve’s upcoming policy decision, with investors now anticipating a potential quarter-point rate cut. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts US Crude Oil Holds Strong Above $80 Despite Mixed Data READ MORE Asia's Demand Fuels Gold Price Surge, Says Julius Baer READ MORE LA's Housing Crisis: 97% of Residents Priced Out of Homeownership READ MORE CBO Raises 2024 US Budget Deficit Forecast by 27% to Nearly $2 Trillion READ MORE Republic Bank Shuts Down; FDIC Coordinates $10 Billion Asset Transfer to Fulton Bank READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment