U.S. headline inflation slowed year-on-year in September but was still faster than expected, presenting a potential dilemma for Federal Reserve officials as they consider further potential rate cuts this year.
The consumer price index (CPI), a key indicator of overall US inflation, slowed to 2.4% from 12 months ago, from 2.5% in August. Economists had seen the rate at 2.3%.
On a monthly basis, the reading matched August’s pace by 0.2%. Forecasts were for a slight decline to 0.1%.
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Reference;
Kanowsky, S. (2024) US inflation rises 2.4% in September, slightly hotter than expectations By Investing.com, Investing.com. Investing.com. Available at: https://www.investing.com/news/economic-indicators/us-inflation-rises-24-in-september-slightly-hotter-than-expectations-3657639 (Accessed: 10 October 2024).
