US Core CPI Tops Forecasts, Bolstering Case for Rate Hike

The core consumer price index, excluding food and energy, rose 0.3% in August according to Bureau of Labor Statistics data released Friday, exceeding the median Bloomberg survey estimate of 0.2%. The annual increase was 2.4%. Financial futures markets reflected a high probability of a Federal Reserve rate increase at next week's policy meeting and a second increase before year-end.

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