August CPI Jump Keeps Fed on Track for 25bp Hike
TL;DR Summary
August CPI rose 0.4% for the month (3.4% year over year) while core CPI gained 0.3% (2.4% YoY); energy costs, especially gasoline, helped drive the increase, with shelter also up 0.3%. The data solidify expectations of a quarter-point Fed rate hike at the upcoming meeting, with markets pricing roughly 90% odds of a move as energy prices and inflation trends influence policy.
- Inflation persisted in August, potentially locking in a Fed interest rate hike cnbc.com
- Inflation report lands in a time of spiking oil prices, rising interest rates and Fed on fence AP News
- Inflation ticked up in August, setting the stage for Fed to hike interest rates NBC News
- A Tiny Shift in the Inflation Rate Could Decide the Fed’s Next Move WSJ
- CPI Report Live Updates: Inflation Data to Offer Update on Stubborn Price Pressures The New York Times
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