Inflation in the United States held steady at 3.4% in the 12 months leading up to August, according to the latest figures from the Bureau of Labor Statistics. This unchanged rate comes as household budgets face mounting pressure, particularly at the fuel pump, where diesel prices have surpassed $6 a gallon, reaching a new all-time high.
The surge in fuel prices is attributed to increased wholesale oil costs, which have been impacted by supply disruptions stemming from the US-Iran war. The Federal Reserve is expected to announce its next interest rate decision in the coming week, with analysts anticipating a potential increase aimed at curbing the rate of price increases.