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.
Surging oil prices