US September Consumer Inflation Exceeds Expectations
The consumer price index increased by 3.7 percent annually, exceeding expectations, while core indicators also came in above forecasts.
According to data released by the US Department of Labor for September, consumer inflation increased by 3.7 percent on an annual basis, surpassing economists' expectations.
Annual and Monthly Inflation Rates
The consumer price index in the US recorded an increase of 3.7 percent on an annual basis in September. While annual inflation, which was 3.4 percent in August, accelerated with this data, it also exceeded economists' expectation of 3.6 percent.
Monthly consumer inflation was recorded at 0.6 percent in September. Following the 0.4 percent monthly increase in August, this rate remained in line with market expectations.
Course of Core Inflation Data
Core inflation, which excludes volatile price items such as food and energy, rose by 0.3 percent on a monthly basis in September. Annual core inflation stood at 2.6 percent.
Market expectations were for monthly core inflation to be 0.2 percent and annual core inflation to be 2.5 percent. Both core figures were announced above forecasts.
Fed's Monetary Policy and Expectations
The latest September inflation data released is expected to be decisive in the steps the US Federal Reserve will take in the upcoming period. The new figures will be closely monitored in the bank's evaluations.