After snapping a three-week losing streak last week, the market is grappling with the inflation data released today. The Consumer Price Index (CPI) in August reflected an 8.3% increase year-over-year and 0.1% over the prior month. Economists expected the headline inflation to fall by 0.1%.
Prices were driven higher by increases in food, shelter, and medical care services, offsetting a sharp decline in gasoline prices.
