US inflation in August rose at its fastest pace since the beginning of the year, ahead of a key Federal Reserve meeting to decide on interest rates. Consumer prices increased by 2.9% year-over-year, up from 2.7% in July, driven by rising costs in cars, household furnishings, and groceries.

• Consumer prices rose 2.9% in the year to August.
• The Federal Reserve is widely expected to cut interest rates by a quarter of a percentage point.
• US economist Atakan Bakiskan stated that President Donald Trump’s "inflationary policies" are eroding consumers’ purchasing power.
• The price of tomatoes rose by 4.5% in August, following a 17% tariff on most tomatoes imported from Mexico.
• The Labor Department reported that employers added only 22,000 jobs in August, and weekly unemployment filings jumped to 263,000.