US inflation rose in August at the fastest pace since the beginning of the year ahead of a key Federal Reserve meeting where it will decide whether to cut or hold interest rates. Consumer prices increased 2.9% in the year to August, up from 2.7% the previous month. The US central bank has kept interest rates unchanged since last year as policymakers continued to monitor the effect of President Trump’s import tariffs on consumer prices. …The Fed is widely expected to cut interest rates next week. The new data is unlikely to derail those forecasts but the uptick in inflation is poised to keep policymakers cautious as they weigh rate cuts in the months ahead. …As well as inflation, the Fed has become increasingly focused on job market weakness. …And on Thursday, the Labor Department reported a jump in weekly unemployment filings to 263,000 – the highest level in nearly four years.