Reported about 10 hours ago
Consumer prices rose by 2.9% over the past year, marking the highest inflation rate since January, driven largely by tariffs on imports put in place by the Trump administration. Grocery prices experienced their biggest monthly increase since 2022, rising 0.6% from July to August, contributing to the financial strain on households. As businesses deplete their buffer inventories built before the tariffs, they are now passing increased costs onto consumers, leading to sustained inflation.
Source: YAHOO