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Investing.com - U.S. consumer price growth is expected to have accelerated in August, indicating that the inflation picture is becoming "more complex" ahead of the Federal Reserve's upcoming interest rate decision, according to estimates from Truflation.
In a report seen by Investing.com, the independent inflation index expects Friday's headline official consumer price index from the Labor Department to come in at 0.3% month-on-month. In July, the figure rose by just 0.1%.
Stripping out volatile items like food and fuel, so-called "core" CPI is anticipated to increase by 0.2%, in line with July.
If realized, this would see headline inflation holding steady at 3.4% in the 12 months to August, while core CPI would slow slightly to 2.4% year-on-year, Truflation projected.