The Consumer Price Index (CPI) for August rose 0.6%, in line with economist expectations for 0.6% and up from 0.2% in July. On a year-over-year basis, CPI inflation rose to 3.7% versus forecasts for 3.6% and from 3.2% a month earlier.
The core CPI – which strips out food and energy costs – rose 0.3% versus economist expectations for 0.2% and against 0.2% a month earlier. On a year-over-year basis, core CPI fell to 4.3%, in line with economist forecasts and down from 4.7% in July.
The price of bitcoin (BTC) was little-changed at $26,100 in the minutes following the news.
Trending: WATCH: Did the World Economic Forum Already Signal the Next Manufactured Crisis?
Surging oil prices
Join the conversation!
Please share your thoughts about this article below. We value your opinions, and would love to see you add to the discussion!