US inflation higher than expected in August at 8.3%

Up 0.2% from July

US inflation hit August to 8.3%, coming in above expectations of 8.0% and solidifying fears that inflation will continue to remain high.

The Bureau of Labor Statistics reported today (13 September) that the Consumer Price Index rose 0.1% from the previous month.  On an annual basis inflation actually dropped by 0.2% between August 2021 and the end of last month. Short-term rates rose significantly, with futures markets now fully pricing a third consecutive 75 basis point rate hike next week by the Federal Reserve. Last week, Fed committee member Christopher Waller said he supported "another significant increase" to rates. Market Movers Blog: UK employment still below pre-pandemic levels Increases in the shelter, ...