U.S. August CPI rises 3.4%... Inflation pressures persist ahead of the Fed's interest rate decision

The U.S. Department of Labor's Bureau of Labor Statistics announced on the 11th (local time) that the Consumer Price Index (CPI) for August rose 3.4% from the same month last year. Compared with the previous month, it increased 0.4%, broadly in line with market expectations. The core CPI, excluding energy and food, rose 2.4% year over year and 0.3% month over month. The monthly increase in core CPI slightly exceeded expectations. With inflation still remaining at a high level, the monetary policy burden on the U.S. Federal Reserve (Fed) is also expected to continue. The Fed will hold a Federal Open Market Committee (FOMC) meeting on the 15th and 16th to decide the direction of its benchmark interest rate.