Us core CPI rises 0.3 percent in August, boosting fed rate hike prospects

Washington — The core consumer price index, excluding food and energy, rose 0.3 percent in August, surpassing the 0.2 percent median estimate from a Bloomberg survey.

The increase, reported by the Bureau of Labor Statistics on Friday, signals a stronger case for the Federal Reserve to raise interest rates next week.

On an annual basis, the core CPI advanced 2.4 percent, reflecting continued inflationary momentum across the economy.

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