Inflation to guide Fed readying next hike

NEW YORK: US inflation data this week may give the Federal Reserve (Fed) mixed signals ahead of a potential third-straight jumbo interest-rate hike, with a broad measure of consumer prices likely to simmer down even as a gauge of underlying pressures accelerates.

The government’s report is expected to show an 8% increase in the overall consumer price index (CPI) from the same month last year, down from 8.5% in July yet still historically elevated.