Inflation ticks upward to 3.7% as the Fed’s fight to tame high consumer prices rolls on

Prices for U.S. consumers grew 3.7% in August as gasoline prices spiked, according to the Bureau of Labor Statistics.

Inflation was about equal to expert projections, and prices rose at a faster pace than the previous month.

Economists had expected the data to show a 3.6% overall increase in inflation compared to a year ago. That makes the second time the year-on-year inflation measure has ticked upward since July after 12 consecutive months of declines.

Core inflation, a measurement of cost increases that removes energy and food prices because of…