The details in the latest Consumer Price Index report could compel the Federal Reserve to raise interest rates.

The all-items consumer price index was expected to rise 0.4% in August, with core, excluding food and energy, showing a 0.2% gain, according to the Dow Jones consensus.

Friday’s inflation report is all about what it means for the Federal Reserve. The consumer price index report for August will be critical in helping the central bank decide whether to raise interest rates at next week’s Sept.

U.S. consumer prices rose 0.4% from the month before in August, the Labor Department estimated Sept. 11, in line with forecasters' expectations.

Investors believe the Fed will raise borrowing costs as it works to tame inflation, which has risen a full percentage point since the Iran war started.

Crypto market participants are bracing for US CPI inflation data today, with Bitcoin sliding almost 2% to below $77,000 ahead of the release. Recent oil price rebounds amid the US-Iran war are keeping traders uncertain about market direction.

Friday’s hotter-than-expected core inflation report has put a Federal Reserve rate hike firmly in play, leaving investors with a more useful question: which stocks could benefit if Chair Kevin Warsh delivers next week?

Although the CPI data is important, the Fed's 2% inflation benchmark is tied to the annual growth in the personal consumption expenditures, or PCE, price index produced by the Bureau of Economic Analysis.