US inflation data: Consumer prices rise to 2.9% in August, core inflation hits 3.1%
US consumer inflation rose to 2.9% in August, its highest since January, as prices of gas, groceries and airfares jumped, according to the Labor Department. The figures come just ahead of next week’s Federal Reserve meeting, where policymakers are expected to cut interest rates despite persistent price pressures.The consumer price index (CPI) was up from…