The S&P 500 futures currently trade 37 points above fair value in the immediate response to the August Consumer Price Index.
Total CPI was up 0.4% month-over-month in July (Briefing.com consensus: 0.4%) following a 0.1% increase in July. That left the year-over-year rate at 3.4%, unchanged from July.
Core CPI, which excludes food and energy, was up 0.3% month-over-month (Briefing.com consensus: 0.2%) following a 0.2% increase in July. On a year-over-year basis, core CPI was up 2.4% versus 2.5% in July.