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US Core CPI Rose More Than Expected in August, Boosting Odds of Next Week's Rate Hike to 90%
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A key measure of U.S. consumer prices rose more than expected in August, strengthening the case for the Federal Reserve to raise interest rates next week. Data from the Bureau of Labor Statistics showed the core Consumer Price Index, which excludes food and energy, increased 0.3% from July to August and 2.4% year-over-year. Higher energy costs pushed the headline CPI up 0.4% month-over-month and 3.4% annually. Traders now price in a probability of about 90% for a rate hike at the upcoming Fed meeting, according to the report from tradealpha.
Source report
A key measure of U.S. consumer prices rose more than expected last month, strengthening the case for the Federal Reserve to raise interest rates next week. Traders now price in a probability of about 90% for a rate hike next week.
Data released by the Bureau of Labor Statistics on Friday showed that the Consumer Price Index (CPI), excluding food and energy prices, increased 0.3% from the previous month in August. On a year-over-year basis, this core measure rose 2.4%.
Rising energy costs pushed the headline CPI up 0.4% from the previous month, with the annual increase coming in at 3.4%.
Source
thsWestern