US short-term interest rate futures fell and markets raised bets on further Federal Reserve rate rises after September CPI came in at 3.7% year on year and core CPI at 2.6%, both above expectations.
OdailyThe story so far: US September CPI release
US September CPI rose 3.7% year on year and core CPI 2.6%, both above forecasts. Short-term rate futures fell and markets raised bets on further Fed rate rises. The unadjusted core CPI was the highest since June, with a 0.3% monthly core rate above the 0.2% expected.
Economists expect US headline CPI up 3.6% year on year in September
Economists polled by The Wall Street Journal expect US headline CPI to rise 0.6% month on month and 3.6% year on year in September, with core CPI up 0.2% and 2.5%. Nuveen's Tony Rodriguez said higher energy prices are driving the headline increase, and the concern is that persistent pressure could spread to food and commodities.
Fifth Third's Bill Adams says US September inflation likely accelerated on petrol
Bill Adams, chief US economist at Fifth Third Bank, expects US September CPI to rise sharply again, driven by rebounding petrol prices, with diesel lifting PPI more than CPI. He sees core CPI mostly moderate, used-car prices easing and housing inflation slowing.
US September CPI rises 3.7% year on year, above forecasts
US September CPI rose 3.7% year on year, above the 3.6% expected, while core CPI rose 2.6%, also above the 2.5% forecast.
US September core CPI rises to 2.6% year on year
US unadjusted core CPI rose 2.6% year on year in September, the highest since June and above the 2.5% expected. The seasonally adjusted monthly core rate was 0.3%, above the 0.2% expected.
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