“The pass-through effect from energy prices to core inflation is small, relative to the downdraft that we’re seeing from other areas,” Sarah House, senior economist at Wells Fargo, told CNN in an interview. Gasoline prices are highly visible indicators of inflation, so more pain at the pump could also weigh on US consumers’ moods.īut economists don’t expect volatile energy prices to prevent inflation’s slowdown in the months ahead. The national average for regular gasoline stood at $3.85 a gallon on Wednesday, according to AAA, the highest level in 10 months. A deadly flood in Libya this week disrupted oil exports, which will push up prices at the pump. Global oil prices have risen recently as OPEC+ nations cut production and demand soared. That’s why I remain laser-focused on cutting energy costs, including by investing in clean energy to bolster our energy security.” President Joe Biden acknowledged the spike in gasoline prices, saying in a statement Wednesday: “Overall inflation has also fallen substantially over the last year, but I know last month’s increase in gas prices put a strain on family budgets. Rising shelter costs continued to feed into inflation. The overall energy index, which includes gasoline, advanced 5.6% in August from July. The CPI’s gasoline index jumped 10.6% in August from the prior month, up sharply from the 0.2% gain in July. Gas prices were the largest contributor to the CPI’s acceleration in August, accounting for more than half of the increase. US stocks were slightly higher after the August CPI release, with the Dow up 0.1%, the S&P 500 0.2% higher and the Nasdaq Composite gaining 0.4%. Wednesday’s inflation report likely keeps the Fed on track for a pause in rate hikes next week when central bank officials meet to deliberate monetary policy. Fed officials pay closer attention to core inflation. Monthly core inflation rose by 0.3% in August, picking up significantly for the first time since February. However, core inflation slowed to 4.3% from 4.7% for the 12 months ending in August, its slowest pace since September 2021, and an indication that the Federal Reserve’s 11 rate hikes are working their way through the economy. On a month-to-month basis, prices rose 0.6% in August, compared with a 0.2% gain in July.
That’s slightly hotter than the 3.6% annual rate economists were expecting, according to Refinitiv.
The Consumer Price Index, a closely watched inflation gauge, rose 3.7% in August from a year earlier, up from July’s 3.2% rise. However, core inflation, which strips out volatile food and energy prices, continued to slow, according to data from the Bureau of Labor Statistics released Wednesday.
For more on all the announcements coming out of The Game Awards, stick with us here on Shacknews.US inflation accelerated in August for the second-straight month, pushed up by rising gas prices. Fans will have to wait roughly a year to see what the team at Blackbird Interactive have been working on. Homeworld 3 is the latest chapter in the beloved RTS series, and the developers are hoping to deliver the most impressive entry yet. We have got a lot more exciting details to share next year as we prepare for the launch of this massive next chapter.” “We could not be more excited to debut the deepest look yet at gameplay with the incredible Homeworld community and the world at The Game Awards. “Homeworld 3 is the realization of the vision of what we set out to create in the Homeworld series, with modern technology allowing us to push beyond our wildest dreams of large-scale dynamic space combat packed with emotional sci-fi storytelling,” said Rob Cunningham, CEO of Blackbird Interactive and original art director on Homeworld and Homeworld 2. Following the trailer, it was confirmed that Homeworld 3 is currently scheduled to launch in Q4 2022, putting it somewhere between October and December of next year. The trailer also serves as an introduction to the game’s story, introducing us to some major players. In the new trailer, we get a glimpse at the game’s various locations around the galaxy, as well as the unique ships and vehicles that players can pilot. A new trailer for the game gave us our best look yet at the sequel, and we also learned that it’s targeting a release date in the final months of 2022. One of the many games featured during the show was Homeworld 3, the upcoming RTS game from Blackbird Interactive. The Game Awards was equal parts video game showcase as it was an awards show, with announcements coming frequently throughout the night.
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