U.S. retail sales surge unexpectedly while import prices jump in August

U.S. retail sales rebounded more than expected in August with a 1.2% monthly gain, while import prices surged, signaling persistent inflation pressures. Consumer spending remains resilient despite higher interest rates and elevated goods prices.

The data adds complexity to the Fed's rate decision scheduled for Wednesday, with markets already pricing in a hike as inflation concerns persist alongside solid consumer demand.

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