STOCKS | U.S. inflation gauge rises more than expected, boosting case for Fed rate hike

According to Wallstreetcn, a key U.S. consumer price measure rose more than expected last month, strengthening the case for the Federal Reserve to raise rates next week, while traders priced in about a 90% chance of a rate hike next week. The Labor Department said on Friday that the consumer price index excluding food and energy rose 0.3% in August from the previous month and 2.4% from a year earlier, while higher energy costs pushed the overall consumer price index up 0.4% month on month and 3.4% year on year.