CPI, Inflation and consumer price index report
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Friday's figures bring the final 2027 COLA calculation closer to completion.
The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.
U.S. consumer prices rose 0.4% from the month before in August, the Labor Department estimated Sept. 11, in line with forecasters' expectations.
The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.
Inflation remained stubbornly high in August, largely on the back of higher energy prices amid the Iran war, economists said.
Crypto market participants are bracing for US CPI inflation data today, with Bitcoin sliding almost 2% to below $77,000 ahead of the release. Recent oil price rebounds amid the US-Iran war are keeping traders uncertain about market direction.
Although the CPI data is important, the Fed's 2% inflation benchmark is tied to the annual growth in the personal consumption expenditures, or PCE, price index produced by the Bureau of Economic Analysis.