August CPI Reaccelerates on Gasoline: Headline Holds at 3.4% as Core Keeps Cooling
August's inflation report handed the Federal Reserve the exact mix it needed to justify a resumption of its hiking cycle: a gasoline-driven headline reacceleration paired with a still-cooling core. Headline CPI rose 0.4% month over month, holding the annual rate at 3.4%, above the 3.3% consensus, according to the Bureau of Labor Statistics. Core inflation, which strips out food and energy, cooled to 2.4% year over year, its lowest of the cycle. For a deeper look at the core picture, see August CPI in Three Charts: Why Core Inflation Warped the Fed's Next Move .
Key Takeaways August headline CPI rose 0.4% month over month on a 3.9% gasoline jump, holding annual inflation at 3.4%, above the 3.3…
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