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Trump says inflation is 'solved' as consumer prices rise 3.7%

NewsFeeds update

President Donald Trump said in a Fox & Friends interview that inflation 'has been solved', while Labor Department data showed consumer prices up 3.7% year on year in September, with high energy costs weighing on households. A Wall Street Journal poll found voters now favour Democrats on the economy by 3 points.

MacroOdailyAINeutral

Read the original on Odaily

The story so far: US September CPI release

Economists expected US September headline CPI up 3.6% year on year. The release came in at 3.7% headline and 2.6% core, above forecasts, lifting rate-hike bets. Trump now says inflation is 'solved' despite the 3.7% reading, and a WSJ poll shows voters favour Democrats on the economy by 3 points.

  1. 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.

    MacroPANewsAIBearish

  2. 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.

    MacroOdailyAIBearish

  3. 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.

    MacroOdailyAIBearish

  4. 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.

    MacroOdailyAIBearish

  5. US short-term rate futures fall as inflation tops forecasts

    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.

    MacroOdailyAIBearish

  6. Dollar index gives up all its gains since the CPI release

    The US Dollar Index fell in early Asian trading, erasing all the gains it had made since the release of September US CPI data, when it rose by as much as about 70 points, and stood at 102.16. GBP/USD and EUR/USD were each up about 0.3%, at 1.3231 and 1.1197.

    MacroPANewsAIBullish

  7. HTX's Andy says US inflation is heating up again as market prices in higher for longer

    HTX chief analyst Andy said US September CPI showed inflation spreading from energy to core prices, with headline CPI at 3.7% year-on-year and core at 2.6%. He said the data reinforced the Fed's higher-for-longer stance, and Treasury yields and the dollar rose after the release.

    MacroPANewsAIBearish

  8. Hassett says September CPI shows inflation still needs work

    White House National Economic Council director Kevin Hassett said beef and egg prices have fallen, but September consumer price data shows overall inflation still needs policy attention. He said inflation looked contained over the past three months but appears to be picking up again.

    MacroOdailyAIBearish

  9. Trump says inflation is 'solved' as consumer prices rise 3.7%

    President Donald Trump said in a Fox & Friends interview that inflation 'has been solved', while Labor Department data showed consumer prices up 3.7% year on year in September, with high energy costs weighing on households. A Wall Street Journal poll found voters now favour Democrats on the economy by 3 points.

    MacroOdailyAINeutral

More Macro updates

  1. US semiconductor stocks extend gains, AMD, SanDisk and Cerebras up over 5%

    MacroOdailyAINeutral

  2. US cloud computing stocks rise, IREN gains more than 9%

    MacroOdailyAINeutral

  3. Dollar rises past 158.5 yen, up 0.5% in 24 hours

    MacroOdailyAINeutral

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Updates are joined into one story by AI; our editors can change a story’s name or take an update out. Not investment advice.