Updated

The Bureau of Labor Statistics is set to release the August consumer price index report at 8:30 a.m. Friday, with market participants viewing the release as unusually consequential given the current mix of surging oil prices, a weakening dollar, and looming Federal Reserve policy decisions. Investors are watching the report closely for signs of whether energy-driven cost pressures are beginning to feed into broader inflation, a dynamic that could complicate the Fed's path on interest rates and further unsettle equity and bond markets already grappling with geopolitical risk.