US CPI Report (September)

The Bureau of Labor Statistics reported that the Consumer Price Index rose 2.4% in September from year-ago levels—a tick downward from August’s 2.5% rate. Core CPI, which excludes volatile food and energy costs, rose 3.3% in September over the last 12 months after rising 3.2% in August.

The CPI increased 0.2% in September from month-ago levels, as it did in August. Core CPI rose 0.3%, matching the August increase.

While inflation overall continued to trend lower, the report showed slightly higher inflation pressures than had been expected. Economists had forecast the CPI would rise 0.1% on a monthly basis in September after rising 0.2% in August, according to FactSet’s consensus estimates. That would have brought the overall inflation rate down to 2.3% from 2.5% in August. Economists had predicted core inflation would rise 0.2% on a monthly basis in September and 3.2% on an annual basis.