US Core CPI Rises 0.3% in August, Strengthening Case for Fed Rate Hike
Updated
Updated · Bloomberg · Sep 13
US Core CPI Rises 0.3% in August, Strengthening Case for Fed Rate Hike
3 articles · Updated · Bloomberg · Sep 13
Summary
US core consumer prices rose 0.3% in August, topping the 0.2% median forecast and reinforcing expectations the Federal Reserve could raise rates next week.
The core CPI measure, which strips out food and energy, advanced 2.4% from a year earlier, according to Bureau of Labor Statistics data released Friday.
That upside surprise matters because core inflation is a key gauge for Fed officials assessing underlying price pressures and the need for tighter policy.