Announced this morning, the Consumer Price Index, a measure of inflation, increased 0.2% in July and has increased 2.9% on an annual basis. The core rate, which excludes food and energy, also increased 0.2% in July and has increased 2.4% on an annual basis. The annual increase in the core rate is the largest since 2008. While the Federal Reserve likely remains on track with measured increases in the months ahead, this data indicates inflation is nearing the high end of their comfort zone and will need to be monitored closely going forward. In all, equity futures are lower this morning given the heading into the market open.
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