PANews reported on September 11th that the US Consumer Price Index (CPI) rose more than expected in August, with the annual rate of inflation increasing at its fastest pace in seven months. However, these figures are not expected to prevent the Federal Reserve from cutting interest rates next week due to a weak job market. Thursday's data showed that the CPI rose 0.4% in August, following a 0.2% increase in July. For the 12 months ending in August, the CPI rose 2.9%, the largest increase since January, following a 2.7% increase in July. Following recent bearish news on the job market, the CPI report could stoke concerns about stagflation. The impact of US President Trump's comprehensive tariffs will be gradual, but price increases are likely to accelerate in the coming months as businesses have now depleted pre-tariff inventories. Business surveys have been hinting at impending price increases for some time. Stephen Stanley, chief economist for US Capital Markets at Santander Bank, said: "There is a lot of evidence that more tariff-related inflation is coming, although it may take several months for the full transmission to occur."