U.S. consumer prices unexpectedly rose in August and underlying inflation accelerated amid rising costs for rents and healthcare, giving the Federal Reserve ammunition to deliver a third 75 basis points interest rate hike next Wednesday.
The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year and increased 0.1 percent from the previous month, the Bureau of Labor Statistics revealed on Tuesday.
Surging U.S. gas and food prices have prompted residents of Southern California to head south of the border to do their shopping and fill up their tanks.
One in five Americans want President Joe Biden to run for reelection while the vast majority say it is time for Biden to call it quits, a Yahoo News/YouGov survey released Thursday found.
Democrats are expected to spend $8 million dollars in 2022 investigating the Capitol attack on January 6, as American struggle with inflation not seen in 40 years.