August's Consumer Price Index (CPI) report displayed rising inflation month-over-month and year-over-year, pointing to energy and gas prices as key cost drivers. Newton Investment Management CIO and Head of Equity John Porter reviews the inflation data and how it stacks up against the Fed's inflation rate target and possible interest rate plans. 'The work's done in raising rates,' Porter says, adding: 'The Fed and everyone else is waiting to see the ultimate impact of the aggressive tightening that they've been on over the past 18 months.'
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