US CPI inflation up at 2.9% in August as expected; jobless higher

The US annual consumer price index inflation rate increased as expected in August, data published by the US Bureau of Labor Statistics showed Thursday.

The country's annual CPI inflation rate accelerated to 2.9% in August from 2.7% in July, as anticipated by the FXStreet-cited consensus. The monthly inflation rate sped up to 0.4% in August from 0.2% in July, higher than the consensus of an increase to 0.3% in August.

The core annual inflation rate remained unchanged at 3.1% in August, as expected. The monthly core inflation rate was unchanged at 0.3%, also as anticipated.

Separately, the US Department of Labor reported that the latest number of new unemployment insurance claims was 263,000 in the week to September 6, an increase of 27,000 from 236,000 a week prior, the latter of which was revised down from 237,000. The most recent figures are the highest since October 2021, when they stood at 268,000.

The latest reading topped the consensus which had pencilled in a decrease to 235,000.

Continuing jobless claims were unchanged at 1.939 million in the week to August 30, with the previous week's figure revised down by 1,000 from 1.940 million.