Inflation stayed hot in August, as CPI rose at an annual rate of 3.4% — higher than economists expected

Inflation Holds at 3.4% in August, Bolsters Rate Hike Wagers

Annual CPI inflation for August came in at 3.4%, matching economist estimates, with the core rate edging lower to 2.4%. Traders had priced in a 69% chance of a Fed rate hike next week.