A highly anticipated report released by the Labor Department on Tuesday showed a modest increase in U.S. consumer prices in the month of August.
The Labor Department said its consumer price index rose by 0.3 percent in August after climbing by 0.5 percent in July. Economists had expected consumer prices to increase by 0.4 percent.
The consumer price growth was partly due to another sharp increase in energy prices, which spiked by 2.0 percent in August after jumping by 1.6 percent in July. Gasoline prices led the way higher, soaring by 2.8 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.