US August CPI Year-on-Year Growth Remains Unchanged, in Line with Market Expectations

According to The Washington Post, the US Department of Labor's CPI report shows that the year-on-year increase in inflation for August remains unchanged, in line with market expectations. Inflation stayed at a high level in August, and several consecutive periods of year-on-year increases have left Americans disappointed with the economic situation. The rise in energy prices, along with a continued slowdown in rent growth, has jointly influenced overall inflation performance. Recently, housing price growth has slowed. UBS analysts said the growth rate of housing costs is expected to "continue to slow for about another year." Currently, the US inflation rate has been above the Federal Reserve’s 2% annual target for more than five consecutive years.