CPI Report Today: August Inflation Data and FED Decision

The August U.S. Consumer Price Index (CPI) report is due today at 8:30 a.m. ET, and markets are watching closely for clues about the Federal Reserve's next policy decision.

The Producer Price Index (PPI) rose 5.4% year over year in July, above the 5.3% market forecast, which pushed Treasury yields higher and put pressure on stocks, gold, and cryptocurrencies.

Markets expect headline CPI to remain at 3.4% year over year, unchanged from the previous reading, while core CPI is expected to ease from 2.5% to 2.4%

The median forecast for monthly growth in August is 0.38%, compared with 0.07% in July.