The Consumer Price Index showed prices were slightly higher than expected in August, rising 0.4% compared with the 0.3% expectation. The core rate, which strips out food and energy, rose just 0.1% though, to match the Street's forecast.
Industrial production increased 0.8% in August, stronger than the forecast of 0.6%. The Fed revised up its previously announced figure for July from a 0.5% expansion to 1.0%. Total industrial production in August was still almost 11% below its level of a year earlier. The growth in production caused the capacity utilization index to improve to 69.6% in August, beating the 69.0% forecast, as last month’s data was revised up slightly from 68.5% to 69.0%.
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