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US Inflation Holds at 3.4% Ahead of Fed Decision

By Markets Desk · 2026-09-11 · Updated 2026-09-11 19:48 UTC
A gas pump nozzle resting on a concrete surface
Illustration: Tradingbird

With US inflation holding steady at 3.4% in August, expectations for a Federal Reserve rate hike next week have intensified, driven largely by surging fuel costs. The data has increased market probability of a 25bp increase to 87%, while President Trump faces growing political pressure over the high cost of living ahead of the November midterms.

  • Market odds for a 25-basis-point rate hike have jumped to 87% following the latest data, according to CME FedWatch tool information included in the GN markets/inflation (en-US) report. The report also notes that record diesel prices and a 44% surge in gasoline costs since February are key drivers behind the persistent inflation.

    Source: Yahoo Finance

  • US consumer prices rose 3.4% annually in August. The Federal Reserve faces pressure to raise rates next week.

    Source: Deseret News
Based on reporting by Deseret News and Yahoo Finance, compiled by the Tradingbird desk.

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