Inflation ticked up in August, but Fed rate cut remains in play amid weakening job market

U.S. inflation accelerated modestly in August, suggesting the Federal Reserve may have some leeway to cut interest rates at its September meeting. Consumer prices rose an annual 2.9% in August, the Labor Department said on Sept. 11, up from a 2.7% annual increase in July. But a reading of “core inflation,” which ignores more volatile categories of spending, stripping out food and energy items, was at 3.1% for the second month in a row. Both readings matched the consensus forecast from economists surveyed ...