ByMichael RaceBusiness reporter, Reporting fromin New York Published 2 minutes ago Prices in the US rose by 3.4% in the year to August, with the cost of living pushed up by higher gasoline prices, official figures show.
The overall inflation rate was unchanged from July, according to the Bureau of Labor Statistics (BLS).
It comes ahead of the Federal Reserve making its latest interest rate decision next week, with growing expectations they will be increased in a bid to slow the rate at which prices are rising.
US household budgets have come under mounting pressure, especially at the fuel pumps, with a gallon of diesel hitting a new all-time high of more than $6 on average on Friday.
The spike in fuel prices has been driven by higher wholesale oil prices, caused by supply disruptions as a result of the US-Iran war.
