A rebound in gasoline prices after two months of declines could push US August
CPI MoM higher, reinforcing markets' expectations of a Fed rate hike next week.
The Labor Department will publish August CPI on Friday; several key components
of Thursday's PPI report were strong. Some economists say oil returning above
$100/bbl will keep inflation elevated and broaden price pressures, while others
point to import tariffs—notably recent tariffs on Canada—as a continuing source
of upward price pressure.
