Back to 2%, inflation was at that time.
The markets anticipated that the CPI rate would decrease to 8% from 8.5% in July.
The Nasdaq fell by 5.5% last week, while the S&P 500 index fell by 4.7%.
Last week, the exchange rate fell by 50 cents, from R17.24/$ the week before to R17.64/$ at Friday's end.
The inflation rate in the Eurozone increased to a new high of 9.1%.
The FED is anticipated to increase its bank rate by between 0.75% and 1%.