Wall Street week ahead: The market focuses on key inflation updates
Advertisement
Read this article for free:
or
Already have an account? Log in here »
To continue reading, please subscribe:
Digital Subscription
One year of digital access for only $205*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*First annual payment billed as $205.00 + GST for one year. This annual subscription will automatically renew at $233.00 + GST every 52 weeks (10% off the regular annual price of $259.35). Offer available to new and qualified returning subscribers only. Cancel any time.
To continue reading, please subscribe:
Add Free Press access to your Brandon Sun subscription for only an additional
$1 for the first 4 weeks*
- Enjoy unlimited reading on winnipegfreepress.com
- Read the E-Edition, our digital replica newspaper
- Access News Break, our award-winning app
- Play interactive puzzles
*Your next Brandon Sun subscription payment will increase by $1.00 and you will be charged $17.95 plus GST for four weeks. After four weeks, your payment will increase to $24.95 plus GST every four weeks.
Read unlimited articles for free today:
or
Already have an account? Log in here »
NEW YORK (AP) — Wall Street will get several important updates about inflation this week.
On Thursday, the U.S. will release its August report for inflation at the wholesale level, called the Producer Price Index, or the PPI. It provides details on prices for businesses before they pass along the costs to consumers.
On Friday, the U.S. will release its better-known Consumer Price Index, for August. The CPI is closely watched and provides details on price changes for specific grocery items, furniture, and clothing, among other categories. It also details price changes for services ranging from car maintenance to travel and restaurant dining.
The reports will help give Wall Street and the Federal Reserve a clearer picture of inflation’s direction. The rate of inflation remains above 3% and is squeezing households and businesses. Inflation is also outpacing wage growth, putting more strain on households.
Rising energy prices because of the U.S. war with Iran have been fueling inflation. Shipping has been stifled in the Strait of Hormuz, through which about 20% of the world’s oil supply flowed prior to the war. That has pushed prices for gasoline and shipped goods higher.
Ongoing tariff conflicts between the U.S. and most of the world also threatens to send prices higher.
The Fed has been holding its benchmark interest rate steady, but Wall Street expects it to raise the rate at least once this year to help fight inflation. The central bank’s stated goal is to cool inflation to a rate of 2%.