US inflation pressures rise somewhat – Fed to cut rates regardless
The price pressure in the United States increased somewhat in August.
Commerzbank Economic Research
09/11/2025
Seasonally adjusted consumer prices rose by just under 0.4% in August compared with the previous month. The annual inflation rate climbed by two-tenths to 2.9%. The core rate, which excludes the volatile prices of energy and food, is more important for assessing underlying price pressure, however. Compared to the previous month, the core index rose by 0.3%, narrowly missing the 0.4% mark with a value of 0.346%. The annual core inflation rate remained at 3.1%.
Tariffs are reflected in the inflation of goods prices
The effects of higher tariffs are also gradually becoming apparent. Some typical imported goods are experiencing relatively high price increases. Since April 2025 – when Donald Trump announced reciprocal tariffs, ushering in a paradigm shift in tariff policy – household appliances, various furniture, and leisure items have become more expensive by an average of about 0.5% on month-on-month basis. Previously, prices for these goods had typically been declining slightly.
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