http://www.forbes.com/markets/2008/08/14/briefing-opener-inflation-markets-equity-cx_ss_0814markets18.html

“The Labor Department’s Consumer Price Index came in at 0.8% for July, almost double the 0.4% estimate from analysts, and was up 5.6% on a year-over-year basis, compared with 5.0% in June. Excluding food and energy prices, the figure also ran hotter than expected, at 0.3%.”

Ok, Fed, it’s time to actually hike the interest rate – rather than just hint – as originally seen on BccList.com here and here.

The good news: Inflation in August – given the “staggering” June/July numbers and the recent hint of an interest rate hike – should be less than analyst will predict.