Gas Prices Push Up Inflation Rate – The New York Times

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CPI Report Live Updates: Gas Prices Push Up Inflation Rate – The New York Times

Federal Reserve officials are likely to remain wary about the outlook for inflation following a report released Wednesday: Overall price increases sped up because of a pop in gas prices in August, and a more closely watched index that strips out volatile food and fuel prices climbed at a faster monthly pace than expected.

The Consumer Price Index climbed 3.7 percent in the year through August, the report showed. That was both faster than the 3.2 percent July reading, and slightly quicker than the 3.6 percent that economists had expected.

Some History for September 13th

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  1. 1759 – During the Seven Years’ War, the British defeated the French at the Battle of Quebec, a pivotal moment in the war for control of North America.
  2. 1948 – Margaret Chase Smith of Maine became the first woman to be elected to the United States Senate in a special election.
  3. 1993 – The Oslo Accords, a peace agreement between Israel and the Palestine Liberation Organization (PLO), were signed on the White House lawn in Washington, D.C.
  4. 2008 – Hurricane Ike made landfall in Texas, causing widespread devastation and leading to significant loss of life and property damage.
  5. 2015 – NASA announced the discovery of flowing water on the surface of Mars, raising hopes for the possibility of life on the Red Planet.
  6. 2019 – Saudi Arabian oil facilities, including the Abqaiq oil processing facility and the Khurais oil field, were attacked by drones and cruise missiles, temporarily disrupting global oil supplies.