U.S. annual inflation remained elevated in August, with rising energy costs and AI-driven chip shortages eroding expectations of near-term easing. AAA data show August U.S. regular gasoline averaged $4.07/gal, up from $3.16/gal a year earlier; amid an intensifying Iran conflict this month the national regular pump price reached $4.30/gal on Friday. August inflation prints are thus pivotal for the Federal Reserve ahead of next week’s policy meeting, where officials remain split over a possible ra

U.S. annual inflation remained elevated in August, with rising energy costs and AI-driven chip shortages eroding expectations of near-term easing. AAA data show August U.S. regular gasoline averaged $4.07/gal, up from $3.16/gal a year earlier; amid an intensifying Iran conflict this month the national regular pump price reached $4.30/gal on Friday. August inflation prints are thus pivotal for the Federal Reserve ahead of next week’s policy meeting, where officials remain split over a possible rate move; three officials dissented in July voting for a hike and others have warned they may join if inflation does not improve. Separately, AI data-center buildout has tightened memory and storage supply, lifting some consumer-electronics prices; Apple has raised prices and launched a new foldable phone with a $1,999 base price this week.