Produce is offered for sale at a grocery store on Sept. 10, 2026 in Chicago, Illinois. Scott Olson | Getty Images
Prices for a wide swath of goods and services continued to climb in August, according to a report Friday that raises the specter of a Federal Reserve interest rate hike next week.
The consumer price index rose a seasonally adjusted 0.4% for the month, putting the 12-month increase at 3.4%, the Bureau of Labor Statistics reported Friday. Both readings were in line with the Dow Jones consensus.
However, stripping out volatile food and energy prices,
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