Federal Reserve (FED) · Kevin Warsh · Bitcoin · CoinDesk
U.S. inflation data in August came in broadly in line with estimates
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The Consumer Price Index rose 0.4% in August, in line with economist forecasts of 0.4% and July’s 0.1% increase.
Key facts
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- The Consumer Price Index rose 0.4% in August, in line with economist forecasts of 0.4% and July’s 0.1% increase
- On a year-over-year basis, headline CPI rose 3.4%, versus expectations of 3.4% and July’s 3.4% reading
- Core CPI, which excludes volatile food and energy prices, increased 0.3% month over month, faster than forecasts of 0.2% and July’s 0.2% rise
Summary
Headline CPI was in line with forecasts, but core CPI rose 0.3% against 0.2% expected. The news could set the Fed up to hike rates next week. U.S. inflation data in August came in broadly in line with estimates, but the core rate rose faster than expected, putting a Fed rate hike next week firmly on the table. On a year-over-year basis, headline CPI rose 3.4%, versus expectations of 3.4% and July’s 3.4% reading.