- Headline inflation numbers matched the consensus forecast, but core inflation ran higher than expected. Gasoline prices were down, moderating overall inflation.
- With one month of data remaining, the Social Security COLA looks likely to increase 1.6% to 1.8% for January payments.
- The I Bond’s new variable rate, to be reset November 1, looks likely to be higher than the current rate of 1.4%.
There was an upside surprise in core inflation — which removes food and energy — with core inflation rising 0.3% in August and 2.4% over the last 12 months. The consensus estimate was for 0.2% for the month and 2.3% year-over-year.