Inflation Climbs Yet Again in August, CPI Rising 0.4% for the Month

Inflation persisted in August, with the consumer price index hiking upward by 0.4% on a monthly basis -- and resulting in a 12-month increase of 3.4% per the Bureau of Labor Statistics. Rising gas prices accounted for more than one-third of the broader index's increase. Some analysts suggest that ongoing inflation could mean another rate hike from the Federal Reserve.