Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose 0.4% in August after a 0.1% increase in July, matching market expectations. The core CPI, which excludes food and energy prices, rose 0.3% compared to 0.2% in July (expected at 0.2%).

Meanwhile, the annual CPI over the past 12 months rose to 3.4%, unchanged from July and in line with expectations, while the core annual CPI rose to 2.4% from 2.5%. In detail, the energy index recorded a rise of 2.1% in August on a monthly basis compared to a decrease of 1.5% in July, and rose to 16.3% on an annual basis from 14.7% in July. Meanwhile, the food index rose in August to 2.7% on an annual basis from 3.4% in July and 0.1% on a monthly basis, while the housing and shelter index rose to 0.3% on a monthly basis from 0.1% and to 3.0% on an annual basis.