Economists are expecting consumer prices to have risen 0.4% month over month during August, and 5.4% year over year, according to estimates from Dow Jones.
The print comes after producer prices jumped 8.3% year over year during August, marking the largest annual increase since records were first kept in November 2010.
The major averages are all down at least 1% for September, and RBC doesn't see the S&P 500 surging into the end of the year."We continue to think the S&P 500 will experience a bout of volatility/meaningful pullback before the year is up, a call that we've been making for the past several months due to elevated equity market sentiment and positioning," the firm wrote in a note to clients