On August 26, market pricing indicated a slight increase in expectations for a Federal Reserve rate hike next month, following the release of data from the U.S. government showing that the inflation indicator closely monitored by the Fed rose 3.7% year-on-year in July, slightly above economists' expectations. Futures data indicated that after the release of this data, the market estimated the probability of a Fed rate hike in September at approximately 42%, up from about 36% before the data was released.