US core CPI on a seasonally adjusted basis rose to 338.9 in September, coming in above forecasts of 0. The reading points to firmer-than-expected underlying consumer price pressures during the month.
Market Expectations And Reaction
The weaker consensus set an unusually low bar for the data, so the miss leaves markets recalibrating expectations for the path of inflation.
Federal Reserve’s Focus
Attention now turns to how the Federal Reserve interprets the core measure’s momentum in coming meetings.
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