PiCK
US September CPI Rises 3.7%, Slightly Above Forecast
Summary
- US consumer price index (CPI) rose 3.7% in September from a year earlier, exceeding economists' forecast of 3.6% by 0.1 percentage point.
- Core CPI rose 2.6% from a year earlier, topping economists' forecast of 2.5% by 0.1 percentage point, and increased 0.3% from the previous month.
- US CPI hit 4.2% in May, then eased to 3.5% in June and 3.4% in both July and August before turning higher again in September.
Forecast Trend Report by Period
US consumer prices rose slightly more than expected in September.
The Bureau of Labor Statistics, an agency of the US Labor Department, said on October 14 that the consumer price index rose 3.7% from a year earlier in September. That was 0.1 percentage point above economists' forecast of 3.6% and 0.3 percentage point higher than August's 3.4% increase.
On a monthly basis, the CPI rose 0.6%, matching the market forecast.
Core CPI, which excludes volatile energy and food prices, rose 2.6% from a year earlier, 0.1 percentage point above economists' forecast of 2.5%. That was also higher than August's 2.4% increase.
From the previous month, core CPI rose 0.3%, exceeding the market forecast of 0.2% by 0.1 percentage point.
Earlier, US CPI rose 4.2% in May from a year earlier, the highest since April 2023, when it stood at 4.9%, marking the strongest reading in three years and one month. It then eased to 3.5% in June and 3.4% in both July and August before turning higher again in September.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul