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Intraday Economic News: CPI Rises 0.4% In August; Core CPI Rises 0.2% Sep 11
Standard & Poors, September 2011
CPI rose 0.4% month over month in August, twice the 0.2% rate that consensus expected. Core CPI, excluding food and fuel, rose 0.2% and is in line with expectations. On a year-over-year basis, the headline CPI accelerated to a 3.8% rate from 3.6% the month before. The core rate also accelerated to a 2.0% rate from 1.8% the prior month and is now at the ceiling of the Fed's implicit target range. The report was much hotter than expected, to give the Federal Open Market Committee hawks more fuel at their policy meeting next week....
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