U.S. inflation for August came in hotter than expected, though likely not enough to derail the Federal Reserve from cutting interest rates next week.

The Consumer Price Index (CPI) rose 0.4% last month versus expectations for 0.3% and 0.2% in July. On a year-over-year basis, CPI was higher by 2.9% versus a forecast 2.9% and 2.7% in July.

Core CPI, which excludes the volatile food and energy components, climbed 0.3% in August against forecasts for 0.3% and July's 0.3%. Year-over-year core CPI rose 3.1% compared with the 3.1% forecast and July’s 3.1%.

Bitcoin slipped about 0.5% from $114,300 to $113,700 in the immediate aftermath of the data.

U.S. stock index futures gave up modest ground, now higher by just 0.1% across the board. The 10-year Treasury yield dipped about five basis points

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