The Bureau of Labor Statistics’ latest inflation report Wednesday is expected to show an increase in price gains, but experts say it's temporary.
Sarah House, a senior economist for Wells Fargo, said that inflation is gradually coming down but that it ticked higher in August because of cuts in oil production, which led to higher gasoline prices.
“The monthly rate of change in both headline and core CPI measures have moderated nicely in recent months, but some of the usual trouble spots remain — shelter, and costs for motor vehicle insurance, maintenance, and repair," wrote Greg McBride, the chief financial analyst for Bankrate. The CPI is the consumer price index.
If the Labor Department report shows that inflation seems under control, the Fed is more likely to stop raising interest rates for the time being. That's something investors and business leaders have wanted to see, because they're worried the steep increases in rates will cause a recession.
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