Consumer inflation likely rose 0.3% month over month in August, translating to an annual gain of 2.9%, according to economists surveyed by FactSet. That price growth isn’t expected to deter the Federal Reserve from cutting interest rates at its Sept. 16-17 policy meeting, but the trajectory of inflation will help determine the depth and pace of rate cuts thereafter.
The Bureau of Labor Statistics will release the latest reading of the consumer price index on Thursday at 8:30 a.m. Eastern. CPI rose 0.2% in July, for a year-to-year gain of 2.7%
Economists expect that core inflation, which excludes more volatile food and energy costs, rose 0.3% last month, and 3.1% for the year, both on par with the pace logged in July.
