The US Consumer Price Index excluding food and energy rose 0.3% month on month in September, coming in above the 0.2% consensus forecast. The outturn points to firmer underlying price pressures than the market had anticipated for the month.
Core CPI Print Overshoots Expectations
With the core CPI print overshooting expectations by 0.1 percentage points, attention is likely to turn to how persistent the run-rate proves in coming releases.
Assessing the Near-Term Trajectory of Inflation
The data add another reference point for assessing the near-term trajectory of inflation in the US.
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