US: Annual core CPI rises to 1.7% in August vs. 1.6% expected

8 months ago 99
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Core inflation in the US came in higher than expected in August. US Dollar Index is rebounding toward 93.30 after the data.

Inflation in the US, as measured by the Consumer Price Index (CPI), edged lower from 0.6% to 0.4% on a monthly basis in August, the report published by the US Bureau of Labor Statistics showed on Friday. On a yearly basis, the CPI rose from 1% to 1.3%. 

Further details of the publication revealed that the annual core CPI, which strips the volatile food and energy prices, rose to 1.7% and came in slightly higher than the market expectation of 1.6%.

Market reaction

With the initial market reaction, the US Dollar Index rose modestly and was last seen losing 0.1% on the day at 93.25.

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