Watch two experts break down what August's key inflation report means for markets

Komal Sri-Kumar, president of Sri-Kumar Global Strategies, and Emily Roland, co-chief investment strategist at John Hancock Investment Management, join CNBC's 'Squawk Box' to discuss August's hot inflation report and how it will affect the Federal Reserve's efforts to combat high prices. Sri-Kumar explains why the Fed does "not have the luxury" to gradually increase interest rates, while Roland lays out potential sectors for investors to watch.