I=8
Headline CPI comes in 0.1% above forecast, core CPI in line
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CPI rose 0.4% in August, above 0.3% estimate and up from 0.2% in July.
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On a yearly basis, CPI was up 2.9% y/y, in line with the forecast but up from 2.7% in July.
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Core CPI rose 0.3% on the month and 3.1% on a yearly basis, both in line with expectations.
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Futures were little changed following the report.
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CPI supercore, which excludes volatile categories such as food, energy, and housing, was unchanged at 3.2%.
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The market doesn’t expect this inflation report to deter the fed from cutting interest rates by 25 basis points next week.
