NEW YORK (NewsNation) — A key inflation report due Friday could directly impact Americans' wallets, as growing consumer anxiety adds pressure.

Following this week's revised GDP, which showed the most substantial quarterly growth in nearly two years, economists are now turning to the Bureau of Economic Analysis' personal consumption expenditures price index, the Federal Reserve's preferred inflation gauge.

The report is expected to show consumer prices up 2.7% year-over-year in August, up from a 2.6% annual increase in July, and core inflation rising 2.9% — still above the Fed's 2% target and moving in the wrong direction. A lot of the upward pressure on prices is attributable to tariffs.

A better-than-expected reading could send markets higher, while a larger rise in inflation could fur

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