SPDR S&P 500 ETF (SPY): ETF Research Reports The most important economic print ahead of next week’s Fed meeting that decides monetary policy is out this morning, and the relief market participants were looking for did not arrive: +0.1% on headline Consumer Price Index (CPI) for August reverses the -0.1% analysts were expecting, and a tick up from July’s 0.0%. We strip out volatile food and gas prices to reach our “core” read on these CPI numbers.