Consumer prices rose 0.4% in August, as expected; core inflation was higher than estimated
The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.
The US Consumer Price Index (CPI) rose 0.4% in August, in line with expectations. The core CPI, which excludes food and energy, was higher than estimated, according to CNBC.
The monthly CPI increase follows a 0.1% rise in July. The annual CPI reading remained steady at 3.4%.
Economists at TD Securities expect core CPI to have risen 0.19% month-over-month and 2.3% year-over-year. They attribute the core inflation to be driven by the services segment, while core goods prices acted as a drag.
Brief written by urgent.news from CNBC, FXStreet — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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