Prior was 3.4%Unrounded vs +3.365% priorCPI m/m +0.4% vs +0.4% expPrior CPI was +0.1%Unrounded CPI m/m % vs +0.074% priorCore readings:Core y/y 2.4% vs 2.4% expectedPrior core was 2.5%Core m/m +0.3% vs +0.2% expectedPrior m/m +0.2%Unrounded % m/m vs +0.215% prior Core-CPI services ex-Rent/OER (supercore) was vs +0.189% m/m priorCore-CPI services ex-shelter vs +0.355% m/m priorCore goods % m/m vs +0.2% priorAhead of the report, the market was pricing in a 68% chance of a rate hike in September and 43.7 bps in hikes this year. USD/JPY was trading at 154.01 ahead of the report.Key sub-components:Owners' equivalent rent: % vs +0.3% priorRent of primary residence: % vs +0.3% priorMotor vehicle insurance: -0.3% vs -0.3% priorAirfares: % vs +2.2% priorUsed cars: % vs +0.4% priorApparel: % vs +0.1% priorMedical care: % vs +0.4% priorLodging away from home: % vs -2.8% priorEnergy m/m: % vs -1.5% priorGasoline m/m: % vs -2.9% priorFood m/m: +% vs +0.1% prior This article was written by Adam Button at investinglive.com.