U.S. Inflation

The "index for shelter was the largest contributor to the monthly all items increase, accounting for over half of the increase."

Digging deeper into the data, "core inflation," which excludes the often fluctuating prices of food and energy, rose to an alarming 4.7% for the year.

The stock market continued its downward spiral on Thursday as the economy struggles to cope with Democrats’ reckless spending adding fuel to runaway inflation.

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.

Joe Biden says he "informed President Zelenskyy that the United States is providing another $1 billion in security assistance for Ukraine."

51% of Americans say economy is bigger concern than Russia-Ukraine conflict.

"We need to accept that there will be some pain in the process," says Davos speaker.

Overall prices rose 0.3% from March.

The U.S. central bank may hike interest rates by up to 75 points due to the high rate of inflation, according to James Bullard, president of the St. Louis Federal Reserve Bank who also added that he does not expect such an increase to occur right away.

Gas prices rocket 48% in past 12 months.