CME FedWatch shows 90% odds of a Fed rate hike after August core CPI beat expectations at 0.3% month-over-month, reshaping market outlook for

Analysts expect US core CPI to fall to 2.3%-2.4% year-over-year in August, down from July's 2.5%, ahead of the September FOMC meeting.

US core producer prices rose less than expected in August, complicating the Federal Reserve's rate decision ahead of the September 15-16 FOMC

Markets are now betting on a 90% chance of a rate hike at Wednesday's Fed policy meeting.