Fed's Sept rate cut seen on track after CPI data

Aug 12 (Reuters) - A moderate rise in consumer prices last month leaves intact the case for a Federal Reserve interest-rate cut next month, traders of futures tied to the Fed's policy rate bet on Tuesday.

The consumer price index rose 2.7% in July from a year ago, the Labor Department said in its monthly report, the same pace as in June and a touch cooler than the 2.8% that economists had expected. Fed funds futures continued to be priced for Fed rate cuts in September and December.