Economics

Year to year inflation in the US rose from 2.7% in July to 2.9%. As this was accompanied by a sharp increase in unemployment, interest rates seem likely to be reduced in the US before the end of the month - thus moderating the stand off between the Fed and the White House. In the EU inflation rose slightly faster than in July and in Ireland the increase was a bit more rapid: from 1.6% to 1.8% in August and the CPI from 1.7% in July to 2% with Food the biggest upward influence.