WASHINGTON (AP) — U.S. inflation likely ticked higher last month as the Trump administration’s import taxes have lifted the price of goods, potentially putting the Federal Reserve in a tough spot when it meets next week.

Economists forecast that consumer prices rose 2.9% in August from a year earlier, according to a survey of economists by data provider FactSet. That would be an increase from an annual pace of 2.7% in July. Excluding volatile food and energy costs, core inflation is expected to have increased 3.1%, the same as in July. Both figures are above the Fed’s 2% inflation target.

The potential increases, while modest, would underscore the challenges the Fed is facing as it experiences relentless pressure from President Donald Trump to reduce its short-term interest rate. Trump h

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