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Good morning from the Financial Times. Today is Thursday, September 14th,

and this is your FT News Briefing. August inflation is causing headaches for the federal reserve,

and it's not clear what will happen to BP now that its CEO has resigned.

Plus China has been cracking down on corruption in the healthcare industry,

but they might have gone a little too far. I'm Mark Filipino, and here's the news you need to start your day.

Inflation in the US ticked up last month, the Consumer Price Index rose by about half a percent

from July to August. Yesterday's reading clocked in at 3.7%. But core inflation, which

strips out volatile stuff like food and fuel, that's a different story. The FT's US economics

editor Colby Smith explains. So core inflation, we saw a little bit more of a moderation at least in

that annual number. If you look month to month, it was slightly stronger than expected,

but overall, we're looking at a situation where this key metric that the Fed has been paying

attention to is really on a downward trajectory. And I think the big question now is how far along

are we in this disinflationary process? Colby says both core and headline inflation are important

numbers to different groups of people. For the purposes of the Fed, core is more important because

it's seen as a better predictor of inflation. But that being said, you can't necessarily ignore

headline data because that's what everyday Americans, consumers, businesses pay attention to.

It's also what's incredibly influential in terms of your expectations of future inflation.

And keeping those expectations under control has been such an important component of the Fed's

fight against inflation. The Fed meets next week. Colby says they'll probably hold off on raising

rates, but that could change at the following meeting. What's important about this report is that

...