CPI Rises 0.2% in August Driven by Housing Costs. Inflation Hits Lowest Since 2021.

Inflation in August fell to its lowest level since February 2021, with the Consumer Price Index rising by 0.2%. Core CPI, excluding food and energy, increased by 0.3%, maintaining a 12-month rate of 3.2%. Housing costs surged, impacting the overall CPI. Markets anticipate a 25 basis point rate cut from the Federal Reserve. Treasury yields rose post-report, while stocks declined.