Business & Finance
August consumer price index release precedes Federal Reserve policy meeting
The government is scheduled to release fresh consumer inflation data ahead of the central bank's rate decision, according to CNBC.
The short version
- The Bureau of Labor Statistics will issue the August consumer price index report at 8:30 a.m.[CNBC]
- A Dow Jones survey projects headline consumer prices rose 0.4% in August and 3.4% year-over-year, while core inflation is estimated at 2.4% annually.[CNBC]
- CME Group futures pricing indicated traders assign over a 73% probability to a quarter-point Federal Reserve interest rate hike.[CNBC]
- Economists note the upcoming policy decision hinges on the inflation figures and fluctuating energy prices.[CNBC]
Key facts
- The Bureau of Labor Statistics will release the August consumer price index report at 8:30 a.m.[CNBC]
- A Dow Jones consensus forecast estimates that overall costs increased 0.4% in August, bringing annual inflation to 3.4%.[CNBC]
- Core inflation excluding food and energy is projected at 0.2% monthly and 2.4% on an annual basis.[CNBC]
- Traders priced the probability of a quarter-point rate hike above 73% based on CME Group's FedWatch gauge.[CNBC]
What remains uncertain
- Whether the Federal Reserve will raise interest rates remains uncertain as economists note the outcome depends heavily on the upcoming inflation data and energy price swings.[CNBC]
Sources
Outlet counts describe coverage, not independent confirmation. Reports may share a wire service or original source.