World Bulletin / News Desk
The consumer price index rose 0.4 percent in August, or 1.9 percent year-on-year, the Commerce Department announced earlier.
The annual level is getting closer to the Fed's 2 percent inflation target, and the bank may feel pressure to raise its benchmark interest rate on Sept. 20, according to experts.
With the fears that a rate hike now looks more likely, investors have taken a sell-off position in the stock market.
The Dow fell 8 points to begin trading at 22,149 points, and the S&P 500 lost 5 points to open at 2,492 points.
The Nasdaq decreased 26 points to start the day at 6,433 points.