U.S. consumer prices accelerated in August as the cost of gasoline rebounded after two straight monthly declines, bolstering market expectations that the Federal Reserve will raise interest rates next week.

A sharp spike in energy costs pushed the consumer price index higher in August, fueling the odds of a Federal Reserve rate hike next week.

Inflation is being driven by the high cost of oil resulting from the conflict between the U.S. and Iran. Wholesale inflation rose 0.4% in August, driven higher by rising oil prices that have sent the global cost of a barrel of oil to $100,

The producer-price index rose 0.4% in August, versus a 0.1% increase in July. The reading was in line with economists’ forecasts.

The United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own exports

The United States has succeeded in loosening Iran's grip over the Strait of Hormuz while virtually shutting down Iran's own exports. But the conflict is far from over and remains costly for

The U.S. military says it destroyed five Iranian oil tankers Tuesday after the Islamic Revolutionary Guard targeted another American warship. The U.S. ship evaded Iran's missiles and no one was

In recent weeks, the United States has succeeded in loosening Iran’s grip over the Strait of Hormuz while virtually shutting down Iran’s own oil exports, accelerating its economic free fall. But the war launched by the US and Israel in February — intended to last a few weeks — is still far from over,