Inflation Is Still Too High: 2 Stocks to Buy Now That Will Benefit
The latest consumer price index (CPI) report is in, and it's not what stock market bulls wanted.
Month over month, consumer prices rose 0.6% in August, their fastest monthly increase this year. And year over year, prices were up 3.7%, accelerating from the 3.2% recorded in July and moving away from the Federal Reserve's goal of 2%.
Gas prices were a major culprit, up 10.6% due to production cuts by OPEC. But even core CPI, which excludes food and energy, was up 0.3% in August and 4.3% year over year, still too hot for the Fed's liking.
Source Fool.com
