U.S. consumer prices accelerated in August as gasoline costs rebounded after two straight monthly declines, increasing market expectations that the Federal Reserve may raise interest rates next week.
The consumer price index rose 0.4% month-on-month in August after a 0.1% increase in July, while annual inflation held at 3.4%. The move followed a rise in August producer prices and a strong employment report, with markets estimating the probability of a Fed rate hike next week at around 90%.
US August CPI Rise Pushes Fed Rate Hike Odds Near 90%
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
