US CPI Preview: Wells Fargo Sees August CPI Rising 0.40% MoM

The U.S. August Consumer Price Index report will be the last inflation reading before the Federal Reserve meets next week. According to Sina Finance, Wells Fargo estimated that August CPI rose 0.40% month over month, while core CPI increased 0.23%. The article said the U.S. Bureau of Labor Statistics will release the August CPI report at 8:30 a.m. U.S. Eastern Time on September 11. It also said CME FedWatch showed futures traders pricing a 62% chance of a 25-basis-point Fed rate hike next week, up from 44% a month earlier.