Investing.com – The rate of growth in US consumer prices slowed in September, but was higher than expected, according to official data from the country’s Federal Bureau of Labor Statistics.
The base came in at 2.4% in annual terms against expectations of a slowdown from 2.5% to 2.3%. In a monthly equivalent, the indicator was also higher than expected, reaching 0.2%, the same as in August, while analysts expected the growth rate to cool to 0.1%.
The core CPI, which does not take into account volatile components such as food and energy, accelerated even from 3.2% to 3.3%. The monthly figure at 0.3% kept the same growth rate against expectations of a weakening to 0.2%.
A separate report showed the number unexpectedly jumped 258,000 last week compared to a forecast of 230,000 and a previous reading of 225,000, hitting the highest level since August 2023.
Immediately after the publication, it did not show an obvious response to the statistics, continuing to trade near the highs of mid-August directly below the 103.00 mark, returning several points.
After the release, markets priced the likelihood of a 25 basis point Fed rate cut in November at more than 80%, according to CME’s FedWatch tool.
2024-10-10 12:43:00
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