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CPI rose 0.4% in August, in line with forecast but core CPI was above estimate
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CPI rose 0.4% in August and 3.4% on a yearly basis, in line with the forecasts.
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Core CPI rose 0.3%, above 0.2% estimate- raising the likelihood that the fed will hike interest rates next week.
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On a yearly basis, core CPI rose 2.4%, in line with the forecast but down from 2.5% in July.
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S&P 500 futures rose 0.5% while Nasdaq 100 futures gained 0.8% following the report.
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Fed Chair Kevin Warsh said last month that the Fed would need to take action if it could not be confident that underlying inflation was clearly moving toward its target at a sufficient pace.
