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US inflation will guide Fed readying next hike

Bloomberg
Bloomberg9/11/2022 09:47 PM GMT+08  • 2 min read
US inflation will guide Fed readying next hike
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US inflation data in the coming week may give the Federal Reserve mixed signals ahead of a potential third-straight jumbo interest-rate hike, with a broad measure of consumer prices likely to simmer down even as a gauge of underlying pressures accelerates.

The government’s report is expected to show an 8% increase in the overall consumer price index from the same month last year, down from 8.5% in July yet still historically elevated. Stripping out energy and food, the CPI is forecast to climb 6.1%, up from 5.9% in the year through July.

Tuesday’s figures, in conjunction with recent data showing healthy job growth, an elevated number of unfilled positions, and resilient household spending, will help shape Fed officials’ views on whether to press ahead with another 75 basis-point rate increase.

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