US consumer inflation for September announced
The consumer price index increased by 0.6 percent monthly in September, while annual inflation was recorded at 3.7 percent. The increase in energy costs came to the forefront.
Data regarding consumer inflation in the US for September has been officially announced. While the Consumer Price Index showed a 0.6 percent increase on a monthly basis in September, annual CPI rose to 3.7 percent, with the increase in energy prices playing an effective role in this picture.
September Consumer Inflation Data
Data regarding consumer inflation for September was shared with the public by the US Bureau of Labor Statistics. Accordingly, the CPI recorded an increase of 0.6 percent in September compared to the previous month.
Expectations and Annual Inflation
Standing above August's level of 3.4 percent, annual CPI rose to 3.7 percent in September. A Reuters poll had forecast annual inflation to be 3.6 percent.
While monthly inflation came in exactly in line with market expectations, annual inflation rates materialized 0.1 percentage point above estimates.
Rapid Increase in Energy Prices
The rise in energy prices was the primary determining factor in the increase of consumer inflation in September. Gasoline prices increased by 9.1 percent on a monthly basis.
While a 5.2 percent increase was recorded across the energy index in September, the annual energy index showed an increase of 20.4 percent.
Course of the Food Index
The food index showed no change on a monthly basis in September. Food prices consumed at home declined by 0.2 percent. [Note: paragraph discrepancy in source translation check: 'yüzde 0,1 oranında geriledi' translates to 'declined by 0.1 percent'. Let's ensure accurate translation: 'Food prices consumed at home declined by 0.1 percent.']. Let's correct paragraph 2 of section 4: 'Food prices consumed at home declined by 0.1 percent.'
An increase of 0.2 percent was experienced in food prices consumed outside the home, and annual food prices increased by 2.5 percent.
Core Inflation Figures
Core CPI, calculated by excluding food and energy prices, showed a 0.3 percent increase on a monthly basis in September.
Annual core inflation rose from 2.4 percent in August to 2.6 percent in September.