The U.S. inflation rate climbed in August, according to new data from the Bureau of Labor Statistics.

According to new data released on Thursday, the consumer price index increased to at 2.9% in the 12-month period ending in July. It was at 2.7% for the 12-month period ending in June and July. The inflation rate is 0.5 percentage points higher than May's rate of 2.4%, and 0.6 percentage points higher than April's consumer price index, which marked the lowest year-over-year inflation rate since 2021.

How much of a role President Donald Trump's tariff policies have played in inflation remains unclear. The inflation rate on items other than food and energy increased to 3.1% for the year ending in August.

Last week, the Budget Lab at Yale University said President Trump's tariffs would r

See Full Page