Investors eyeing a Fed rate cut this week
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The consumer price index for August 2025 rose 2.9% on an annual basis. Tariffs seem to be pushing prices for goods like clothing higher, economists said.
American voters often rank inflation as the most important issue facing the US. But something odd has happened to inflationary expectations since Donald Trump became president in January. Americans believe inflation is much higher than it is, and are bracing themselves for further increases.
Thursday's report is expected to slow a modest pickup in annual inflation as measured by the consumer-price index, to 2.9% from July's 2.7% rate.
The 12-month inflation rate edged up to 2.9 percent in August, according to data released last week by the Department of Labor.
Gold is surging as higher inflation, rising unemployment, a weakening dollar, and central bank buying fuel safe-haven demand ahead of expected Fed rate cuts.
The annual inflation rate ticked higher in June, in line with expectations, as lower prices at the gasoline pump somewhat offset higher prices at the grocery store. Stream NBC 5 for free, 24/7, wherever you are. Economists said they expect the full impact ...