AXIOS reported consumer prices remained elevated in August and an Iran
war-driven energy shock has accelerated inf, squeezing household budgets; signs
point to persistent underlying inf. The data could strengthen the Fed’s case to
hike next week. Since the Iran conflict escalated, oil has risen sharply in
September to about $100/bbl from roughly $80/bbl in mid-August. AAA said the US
average diesel price climbed to a record $6.00/gal.