Lagarde to Address Inflation Data at Apple Festival Appearance

European Central Bank President Christine Lagarde is set to make a public appearance at an apple festival in Normandy on Saturday, just two days after the ECB raised its key interest rates by 25 basis points. The timing of her remarks has not been released ahead of time, but it's likely she will address recent inflation data.

The US Bureau of Labor Statistics reported that the Consumer Price Index for All Urban Consumers increased 0.4 percent in August on a seasonally adjusted basis after rising 0.1 percent in July. Over the last 12 months, the all items index increased 3.4 percent before seasonal adjustment.

The inflation report could help determine the direction of the Federal Reserve's interest rate decision, set for Wednesday, Sept. 16. Economists polled by FactSet expected inflation to rise at an annual rate of 3.3%, but the actual number came in slightly higher at 3.4%. The CPI, a basket of goods and services typically bought by consumers, tracks changes in prices over time.