US inflation accelerated in August as rising petrol prices
pushed up consumer costs.
The Consumer Price Index increased 3.4 per cent
year-on-year, matching July’s rate, while prices rose 0.4 per cent from the
previous month, up sharply from 0.1 per cent in July.
Petrol prices climbed 3.9 per cent month-on-month,
accounting for about one-third of the overall increase in inflation, according
to data from the Labour Department released. -OGN/TradeArabia News Service
