'TRANSITORY?' - U.S. inflation rises sharply again in August and stays at 30-year high

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The numbers: The cost of goods and services rose sharply again in August and left the rate of U.S. inflation at a 30-year high, with all signs pointing to price pressures snaking into next year.

The personal consumption expenditure price index climbed 0.4% in August, the government said Friday. It was the sixth straight big increase.

The rate of inflation in the 12 months ended in August edged up to 4.3% from 4.2% — the highest rate since 1991, when George H.W. Bush was president.