Park Avenue Numismatics
5084 Biscayne Blvd, Suite 105
Miami, FL 33137
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9.12.23 - CPI Inflation Rate Is Heating Up Again
Gold last traded at $1,913 an ounce. Silver at $23.07 an ounce.
The CPI Inflation Rate Is Heating Up Again. Here's Why The Fed Will Stay Cool. -Investors.com
by Jed Graham
The consumer price index for August, out Wednesday at 8:30 a.m. ET, is expected to show the headline inflation rate moving higher for the second straight month, fueled by higher gas prices. Yet economists expect a third straight month of tame core CPI inflation, which should keep the Federal Reserve content to forgo further rate hikes and increase the chances of a soft landing.
The S&P 500 fell modestly in Tuesday's stock market action, dipping just below a key technical level as investors awaited the last big economic data point before next week's Fed meeting. Markets see minimal chance of a rate hike, but the CPI data will influence the Fed's policy projections that will be updated next week.
Thursday's retail sales and producer price index reports, which will provide key updates on consumer spending and health care inflation, also could prove important.