**As seen in Online Tools > U.S. Inflation Dashboard, subscribe at cablefxm.co.uk/reports
We previously noted economists' median expectation pointing to a decline in headline CPI to 2.5%, the forecast distribution in our U.S. inflation dashboard showed. Expectations materialized, while the core metric accelerated to 0.3% M/m; est. 0.2%
The CPI contribution chart shows a continuation of the precedent trend, goods prices continue to support the disinflationary progress taking the headline to the lowest since February 2021
Shelter prices rose the most in August, fuel prices led the decline
The Cable FX Macro U.S. Inflation Surprise Index is stabilizing in August, the metric is supported by the upside in core. The downside contributions are led by headline CPI
Ahead, the FOMC decides on rates before we receive the core PCE deflator release
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