US Core CPI Rises 0.3% in August, Raising Odds of Fed Rate Hike

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US core consumer prices rose 0.3% in August, exceeding analyst forecasts, according to the latest CPI report. The hotter-than-expected inflation reading has heightened speculation that the Federal Reserve may move to raise interest rates. The report carries particular significance after Fed Chair Kevin Warsh recently warned that the central bank could be forced to act if inflation fails to cool. Warsh made those remarks approximately two weeks before the data was released. The figures put the Fed in a difficult position as policymakers weigh their next move on monetary policy.

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