August Inflation Shock: Core Prices Rise, Knocking Back Peak CPI Bets; Stocks Slump

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The Street

By Martin Baccardax Core inflation pressures resurfaced last month, BLS data indicated Tuesday, accelerating bets on a big Fed rate hike next week in Washington. U.S. inflation slowed again last month, data from the Bureau of Labor Statistics indicated Wednesday, but core consumer prices jumped higher, suggesting pressures have yet to peak in the world’s biggest economy. The headline consumer price index for the month of August was estimated to have risen 8.3% from last year, down from the 8.5% pace recorded in July but faster than the Street consensus forecast of 8.1%. On a monthly basis, inf…

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