US Consumer Prices Rise 3.7% in August... Impact of High Oil Prices

The August Consumer Price Index (CPI), which can gauge the level of inflation in the United States, showed an upward trend due to high oil prices.

The U.S. Department of Labor announced on the 10th (local time) that the August CPI rose 3.7% compared to the same month last year. This figure slightly exceeded Wall Street's forecast of 3.6%.

Compared to the previous month, the CPI recorded a 0.6% increase, meeting Wall Street's expectations.

The core CPI, which excludes the volatile energy and food sectors, rose 4.3% year-over-year, matching market expectations. The month-over-month core CPI increase was 0.3%, slightly surpassing experts' forecast of 0.2%.