In August, consumer prices rose 3.4% over the past year while wages increased just 3.1%.

The number matched analyst expectations and was even with July’s 3.4%.

The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.

Friday's figures bring the final 2027 COLA calculation closer to completion.

The consumer price index rose to 0.4% on a seasonally adjusted basis putting annual inflation at 3.4%, the U.S. Bureau of Labor Statistics reports.

Starting in November, an important part of the interest rate that determines how much money people earn from federal Series I Savings Bonds — i-bonds — is expected to be among the highest in more than 20 years.

For investors in or near retirement, inflation is always a threat. TIPs can get it under control.

Wall Street ended the week lower, with investors digesting a sharp rise in Treasury yields and the latest inflation data. The benchmark 10-year yield climbed nearly 20 bps to 4.97%, while CPI rose 0.4% M/M in August,

Mr. Trump's pledge to give $5,000 to Americans would stoke inflation and worsen the nation's fiscal outlook, according to economists.

The US Federal Reserve goes into a key rate-setting meeting this week with markets expecting policymakers to pull the trigger on a rate hike to tackle persistently high inflation -- and analysts say central bank chief Kevin Warsh's credibility is on the line.