U.S. Inflation Rises in August but Unlikely to Shift Fed Rate Outlook

U.S. consumer price index rose 0.6% month-on-month in August, largest increase since June.

Core CPI rose 0.3%, slightly higher than expected.

Goldman Sachs said inflation report unlikely to affect Fed's September meeting outcome.

Goldman maintained view that Fed will not hike rates in November.

Focus turns to ECB rate decision later today, with 60% chance of 25 basis point hike expected.