US CPI measures how fast consumer prices are rising year-on-year, the key inflation gauge the Federal Reserve watches when setting interest rates.
Actual
3.7%
Forecast
3.5%
Previous
3.2%
Source: U.S. Bureau of Labor Statistics. Figures as released; revisions appear in the next print.
US Inflation Rate (CPI) for August 2023 came in at 3.7% versus 3.5% expected (previous 3.2%), above forecast, which was positive for the USD.
What it meant for the US Dollar
The actual landed above the 3.5% forecast (0.2 above expectations). A reading above forecast is generally bullish for the USD, and below forecast bearish. On this release the read was positive for the USD.
New to this release? See what US Inflation Rate (CPI) measures, the next release and its full history.