- Inflation in the US rose by 0.4 per cent in August and 2.9 per cent over the past 12 months, a development attributed to Donald Trump's reciprocal tariffs.
- The increase in consumer prices was primarily driven by significant rises in the costs of food and shelter, with notable spikes in beef, fruit, and coffee prices.
- The economic outlook was further dampened by a bleak job market, with only 22,000 jobs added in August and unemployment benefit applications reaching their highest level in almost four years.
- The Bureau of Labor Statistics also revised down the number of jobs added in the last year by 911,000, a figure Donald Trump has used to claim the bureau is corrupt.
- The combination of rising inflation and anemic job growth increases the likelihood that the Federal Reserve will consider cutting interest rates, despite Donald Trump's previous criticisms of the central bank.
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