Inflation Held at 3.4 Percent in August
Prices excluding food and energy were up 2.4 percent from a year earlier.
Consumer prices were 3.4 percent higher in August than a year earlier, the Bureau of Labor Statistics reported Friday, September 11, the same annual rate as in July. Excluding food and energy, prices rose 0.3 percent in the month and 2.4 percent over the year. Forecasters had expected the annual rate to ease to about 3.3 percent, according to FactSet.
The report came five days before the Federal Reserve's September 15-16 meeting, where policymakers were weighing whether energy-driven inflation required higher rates.
Correction, Nov. 3, 2026. Correction: An earlier version of this story, based on a third-party summary, said consumer prices rose 0.1 percent in August. The Bureau of Labor Statistics put the monthly increase at 0.4 percent, seasonally adjusted.
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