Inflation is up and inflationary pressures are still on. As outlined in MarketWatch:
The numbers: The cost of goods and services rose sharply again in August and left the rate of U.S. inflation at a 30-year high, with all signs pointing to price pressures snaking into next year.
The personal consumption expenditure price index climbed 0.4% in August, the government said Friday. It was the sixth straight big increase.
The rate of inflation in the 12 months ended in August edged up to 4.3% from 4.2% — the highest rate since 1991, when George H.W. Bush was president.