Headline CPI Expected to Have Spiked Higher in August, but Core Rate Seen Slowing

Economists expect the U.S. Consumer Price Index (CPI) to have jumped 0.6% in August, or triple the pace of July’s 0.2% increase. On a year-over-year basis, the CPI is anticipated to have grown at rate of 3.6% versus 3.2% in July.

The blame for higher inflation will be laid at resurgent oil prices, with WTI Crude Oil Tuesday morning hitting a new 2023 high just shy of $89 per barrel, up a whopping 33% since the start of July.

The core CPI – which strips out food and energy prices and which seems to garner more attention from policymakers at the U.S. Federal Reserve – is expected to

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