Breaking: Inflation Continued to Climb in August, Defying Expectations

The Consumer Price Index (CPI), a key measure of inflation, increased by 8.3 percent in August compared to the same time last year, the Bureau of Labor Statistics revealed on Tuesday.

The rise was worse than the 8.1 percent increase that economists had expected, according to Dow Jones estimates.

The month-to-month figure also came in worse than expected, with economists having predicted a -0.1 percent change to the CPI but instead the measure increased 0.1 percent.

Core CPI, excluding volatile energy and food prices, increased 6.3 percent year-over-year and 0.6 percent from the month before.

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