| US CPI (September) | Result | Market Forecast | Previous |
|---|
| Overall MoM | +0.6% | +0.6% | +0.4% |
| Overall YoY | +3.7% | +3.6% | +3.4% |
| Core MoM | +0.3% | +0.2% | +0.3% |
| Core YoY | +2.6% | +2.5% | +2.4% |
| US CPI Breakdown (September) | MoM | YoY |
|---|
| Overall | +0.6% | +3.7% |
| Energy | +5.2% | +20.4% |
| Food | 0.0% | +2.5% |
| Core | +0.3% | +2.6% |
| Core PCE | +0.3% | +0.7% |
| Used Cars | +0.7% | -1.5% |
| Core Services | +0.4% | +3.1% |
| Shelter | +0.4% | +3.2% |
| Rent | +0.2% | +2.8% |
| Owner's Equivalent Rent | +0.3% | +3.3% |
| Hotels & Lodging | +2.0% | +4.4% |
| Airfares | +1.2% | +22.4% |
The CPI released last night exceeded expectations mainly due to higher crude oil, though core CPI’s stickiness attracted attention. A favorable factor is that food prices cooled, but there is noticeable inflation in categories not directly tied to energy costs, including shelter-related rent, hotel lodging, core services, and used cars.
