US: Annual core CPI in August rose to 2.4% vs. 2.3% expected

• Annual core CPI prints 2.4% in August to beat expectations.
• US Dollar Index clings to daily gains after the data.

According to the monthly data published by the US Bureau of Labor Statistics, inflation in August, as measured by the Consumer Price Index (CPI) ticked down to 1.7% from 1.8% on a yearly basis.  However, the core CPI, which excludes volatile food and energy prices, rose to 2.4% annually  from 2.3% and beat the market expectation of 2.3%.

On a monthly basis, the CPI and the core CPI increased 0.1% and 0.3%, respectively.

Meanwhile, the US Dollar Index, which climbed higher toward the 99 mark boosted by the heavy selling pressure surrounding the EUR/USD pair, was last up 0.27% on the day at 98.90.