US Annual Inflation Reaccelerates to 3.7 Percent in August as Oil Prices Surge

The annual consumer price index (CPI) was released for August and inflation maintained its upward trajectory.

A customer pumping gasoline at an Arco gas station in Mill Valley, Calif., on March 3, 2015. Justin Sullivan/Getty Images

The U.S. annual inflation rate rose to 3.7 percent in August from the consumer price index (CPI) reading of 3.2 percent a month earlier, according to Bureau of Labor Statistics data.

It was slightly higher than economists’ expectations of 3.6 percent.