Core inflation climbed to a 40-year high
They recorded a faster than expected rise US consumer prices in September, according to Fed.
Annual inflation stood at 8.2% in September against estimates of 8.1%, a rate that remains particularly high and has disappointed economists. In August, the relative index had risen to 8.3%. Monthly inflation, meanwhile, was set at 0.4% against forecasts for 0.2%.
The consumer price index, which excludes prices of volatile food and energy categories, rose 6.6% in September compared to September 2021 with core inflation climbing to a 40-year high.
Fed officials and Wall Street analysts are expected to watch the monthly data even more closely, including what happened between August and September.
Many economists expect inflation to ease in the coming months as supply chains recover, used-car price cuts trickle down to buyers and consumer demand eases. But they expect progress to be gradual as rents continue to rise and the cost of other services rise.
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