NEW YORK (AP) — Wall Street will get several important updates about inflation this week.
On Thursday, the U.S. will release its August report for inflation at the wholesale level, called the Producer Price Index, or the PPI. It provides details on prices for businesses before they pass along the costs to consumers.
On Friday, the U.S. will release its better-known Consumer Price Index, for August. The CPI is closely watched and provides details on price changes for specific grocery items, furniture, and clothing, among other categories. It also details price changes for services ranging from car maintenance to travel and restaurant dining.
The reports will help give Wall Street and the Federal Reserve a clearer picture of inflation's direction. The rate of inflation remains above 3% and is squeezing households and businesses. Inflation is also outpacing wage growth, putting more strain on households.
Rising energy prices because of the U.S. war with Iran have been fueling inflation. Shipping has been stifled in the Strait of Hormuz, through which about 20% of the world's oil supply flowed prior to the war. That has pushed prices for gasoline and shipped goods higher.
Ongoing tariff conflicts between the U.S. and most of the world also threatens to send prices higher.
The Fed has been holding its benchmark interest rate steady, but Wall Street expects it to raise the rate at least once this year to help fight inflation. The central bank's stated goal is to cool inflation to a rate of 2%.
Options trader Marty Handler works on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2026, in New York. (AP Photo/Yuki Iwamura)
CAIRO (AP) — The U.S. military on Saturday said it struck three Iranian oil tankers after Navy warships were targeted with missiles, warning that it would “if necessary, destroy Iran’s limited and exposed oil fleet.”
The military’s statement said a U.S. aircraft carrier and a destroyer evaded “multiple unprovoked Iranian attacks” while patrolling in the region and no U.S. personnel were hurt. It said two Iranian oil carriers were “permanently disabled” and the third, unladen one, was destroyed.
The U.S. statement said the tankers were part of a shadow network helping to fund Iran’s powerful Revolutionary Guard and its armed proxies in the region.
Earlier, Iran accused the U.S. of attacking an Iranian tanker near Kharg Island in the Persian Gulf.
The U.S. said one tanker was struck off Kharg Island and another was struck near Jask. The unladen tanker was hit in the Gulf of Oman. The statement shared what it called video footage of the strikes.
The strikes came nearly a week after the U.S. and Iran resumed attacks following a month of relative calm in the on-again, off-again war that began with U.S. and Israeli attacks on Feb. 28. Both sides have sought to inflict both military and economic pain, and negotiations have collapsed.
“We will not hesitate to defend American forces, and if necessary, destroy Iran’s limited and exposed oil fleet,” the head of U.S. Central Command Adm. Brad Cooper said.
Two people sit on rocks overlooking a beach as others swim and commercial vessels lie anchored in the Strait of Hormuz off Bandar Abbas, Iran, Friday, Sept. 4, 2026. (AP Photo/Vahid Salemi)
A man, woman and boy ride a motorcycle along the waterfront as commercial vessels lie anchored in the Strait of Hormuz off Bandar Abbas, Iran, Friday, Sept. 4, 2026. (AP Photo/Vahid Salemi)
A girl plays in the water with a swim ring as commercial vessels lie anchored in the Strait of Hormuz off Bandar Abbas, Iran, Friday, Sept. 4, 2026. (AP Photo/Vahid Salemi)
A swimmer remains near the shore as a motorboat passes commercial vessels anchored in the Strait of Hormuz off Bandar Abbas, Iran, Friday, Sept. 4, 2026. (AP Photo/Vahid Salemi)
