CPI rises, current account balance $98.8 billion

The latest batch of economic data just hit the tape. It showed the Consumer Price Index rising 0.4% in August. That was up from a flat reading in July and slightly hotter than the 0.3% rise that was expected. Core CPI was up 0.1%, in line with forecasts. A large increase in the price of fuel (gasoline) drove the gains in the headline number. The current account deficit registered $98.8 billion in the second quarter, down from a revised $104.5 billion in Q1 but worse than the $92 billion average forecast of economists. We're not seeing much movement in the markets in the wake of this news yet.