Friday's CPI inflation report could influence the Fed's next rate decision
CPI report: August inflation data could shape the Fed's rate decision next week See what economists expect and why traders are watching every price move.
The Bureau of Labor Statistics is set to release the August consumer price index report on Friday morning, and the data may shape the Federal Reserve's interestrate decision next week.
Economists expect consumer prices to have risen 0.4% in August, which would leave the annual inflation rate at 3.4%. Core inflation, excluding food and energy, is expected to rise 0.2% on the month and 2.4% year over year.
The report will add to Thursday's producer price data and help inform the Fed's preferred inflation measure, the personal consumption expenditures index, later this month. Traders have recently increased the odds of a quarterpoint rate hike, though expectations remain sensitive to the latest inflation data and energy prices.