US Consumer Price Index rose 0.2% in Aug vs. 0.1% increase expected

September 16, 2016 2:20 PM

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US Consumer Price Index rose 0.2% in Aug vs. 0.1% increase expected

But against the backdrop of a raft of disappointing economic reports for August, including weak retail sales and industrial production, as well as a slowdown in job growth, the U.S. central bank is expected to leave interest rates unchanged.

The Fed has a 2 percent inflation target and tracks an inflation measure which has been stuck at 1.6 percent since March. Fed Governor Lael Brainard said on Monday she wanted to see stronger consumer spending data and signs of rising inflation before hiking rates.

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