Inflation rose 3.7% in August as consumer prices heat up again

The Labor Department said Wednesday that the consumer price index, a broad measure of the price for everyday goods including gasoline, groceries and rents, rose 0.6% in August from the previous month, in line with estimates. 

Prices climbed 3.7% from the same time last year, up from 3.2% in July. It marked the second acceleration in the headline figure in more than a year, underscoring the challenge in taming high inflation.