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The Consumer Price Index is expected to rise 3.4% over 12 months, with core prices increasing 2.4% according to forecasts.
Rising fuel prices have pushed up the overall inflation rate, while relatively low housing inflation is keeping "core" inflation running cooler.
Higher-than-expected inflation could cement expectations that the Fed will raise interest rates at its meeting next week.
A highly anticipated and consequential report on the Consumer Price Index on Friday is likely to show inflation stayed elevated in August.
