{"id":129280,"date":"2022-09-13T14:36:37","date_gmt":"2022-09-13T14:36:37","guid":{"rendered":"https:\/\/fin2me.com\/?p=129280"},"modified":"2022-09-13T14:36:37","modified_gmt":"2022-09-13T14:36:37","slug":"yellen-rising-gas-prices-are-a-risk-this-winter","status":"publish","type":"post","link":"https:\/\/fin2me.com\/business\/yellen-rising-gas-prices-are-a-risk-this-winter\/","title":{"rendered":"Yellen: Rising gas prices are a &#39;risk&#39; this winter"},"content":{"rendered":"<p><cite>Minneapolis (CNN Business)<\/cite>US inflation cooled off in August for the second-straight month but remained stubbornly high, according to data from the Bureau of Labor Statistics released Tuesday.<\/p>\n<p>The Consumer Price Index, which measures a basket of consumer goods and services, showed prices were up 8.3% year on year, a slowdown from the 8.5% gain in July and the 9.1% spike in June. The last time the headline CPI rate declined in consecutive months was the first part of 2020.<br \/>\nOn a monthly basis, consumer prices rose 0.1% from July. <\/p>\n<ul><\/ul>\n<p>The slower pace of annual price hikes comes alongside a significant drop in gas prices, which have come down from record highs set in June. <\/p>\n<ul><\/ul>\n<p>Core CPI, which strips out the more volatile categories like food and gasoline, measured 6.3% in August, up from 6.2% in July. <\/p>\n<p>Still, inflation remains painfully high for many Americans, especially those with little wiggle room in their monthly budgets. Annual price gains are a far cry from where they were 18 months ago and from the Federal Reserve&#8217;s target inflation rate of 2%.<br \/>\n&#8220;This is a fight we cannot, and will not, walk away from,&#8221; Fed Governor Christopher Waller said last week, underscoring the central bank&#8217;s laser focus on hitting its 2% goal.<\/p>\n<ul><\/ul>\n<p>The Fed has been tightening its monetary policy in recent months to help rein in the highest inflation in four decades, implementing back-to-back, super-sized rate hikes of 75 basis points. <\/p>\n<ul><\/ul>\n<p>Tuesday&#8217;s report \u2014 especially core CPI \u2014 will be scrutinized by the Fed ahead of its policymaking meeting next week.<br \/>\n<em>This story is developing and will be updated.<\/em><br \/>\nSource: <a href=\"https:\/\/edition.cnn.com\/2022\/09\/13\/economy\/august-cpi-inflation\/index.html\" target=\"_blank\" rel=\"noopener\">Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Minneapolis (CNN Business)US inflation cooled off in August for the second-straight month but remained stubbornly high, according to data from the Bureau of Labor Statistics [&#8230;]<\/p>\n","protected":false},"author":3,"featured_media":129279,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Yellen: Rising gas prices are a &#039;risk&#039; 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