Hot US Aug CPI seen cementing aggressive FOMC
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Monthly US consumer prices rose unexpectedly in August.
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Because the fall in petrol prices was offset by gains in rent and food costs.
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The Federal Reserve was given cover to deliver another huge interest rate hike next Wednesday.
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Labor Department said on Tuesday.
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The consumer price index rose 0.1% last month after remaining unchanged in July.
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Economists polled by Reuters had forecast a 0.1% drop in the CPI.
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In the 12 months to August, the CPI grew by 8.3 per cent.
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That's less than July's increase of 8.5 percent.
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The annual CPI in June reached 9.1%.
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Which was the biggest gain since November 1981.
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