Core inflation surprise backs near-certain Fed rate hike
TL;DR Summary
August core CPI rose 0.3% month over month (versus 0.2% expected), lifting core inflation to about 2.4% year over year, while headline CPI rose 3.4% YoY and 0.4% MoM. With oil rebounding toward $100 a barrel, markets price in roughly a 90% chance of a Federal Reserve rate hike at next week's meeting, though officials remain divided on how quickly inflation will cool.
- Fed rate hike odds surge to 90% on monthly jump in core prices Yahoo Finance
- Inflation persisted in August, potentially locking in a Fed interest rate hike CNBC
- US Inflation Rises Faster Than Experts Predicted bloomberg.com
- Elevated Inflation Keeps Pressure on Fed to Raise Rates The New York Times
- No relief from inflation as Middle East clashes lifts fuel prices to painful levels AP News
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