US Core CPI Tops Forecasts, Bolstering Case for Rate Hike
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A key gauge of US consumer prices rose by more than expected last month, bolstering the case for Federal Reserve officials to raise interest rates next week. The consumer price index, excluding food and energy, climbed 0.3% in August from a month earlier, according to Bureau of Labor Statistics data out Friday. The median estimate in a Bloomberg survey called for a 0.2% increase. On an annual basis, it advanced 2.4%. Futures showed investors priced in a rate hike next week as a near certainty following the release, and put a high likelihood on a second increase before the end of the year. We got reaction from Sarah Hunt, Chief Market Strategist at Alpine Saxon Woods. She speaks with Bloomberg's Paul Sweeney and Lisa Mateo. -------- Watch Bloomberg Radio LIVE on YouTube Weekdays 7am-6pm ET Saturday & Sunday 7am-10am ET WATCH HERE: http://bit.ly/3vTiACF Follow us on X: https://twitter.com/BloombergRadio Subscribe to our Podcasts: Bloomberg Daybreak: http://bit.ly/3DWYoAN Bl
Tags: CPI, Fed Policy, Federal Reserve, Inflation, Kevin Warsh, Lisa Mateo, Monetary Policy, Oil, Paul Sweeney, Sarah Hunt, US CPI, US economy, energy costs, labor market
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