($MACRO) U.S. consumer prices jump 0.4% in August.‘Core’ rate of inflation hits highest 12-month level since late 2008.

Americans paid more money for a broad range of goods and services last month, including gas, food, clothing and shelter, and the higher costs ate into their inflation-adjusted income.
The Labor Department on Thursday said consumer prices rose a seasonally adjusted 0.4% in August. The increase was largely responsible for a 0.6% drop in the average hourly wages of U.S. workers, adjusted for inflation. It marked the biggest one-month decline in more than three years. -MarketWatch

Screwflation is here to stay and is not transitory as the Fed wants to say.