Inflation remained elevated in August

(CNN)– Inflation didn’t cool at all last month.

The “Personal Consumption Expenditures Price Index” rose three-tenths of a percent in August.

That’s the same as a year ago which kept the annualized rate of inflation at 3.4%.

This August, the rise in the index was attributed primarily to energy prices due to the war in Iran.

According to the Federal Reserve Bank of Atlanta workers are barely keeping up.

It reports employees who didn’t change jobs saw an average annual wage growth of 3.6% in August.