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Inflation expected to slow in September but 'upside risks' loom amid start of Fed easing
Inflation expected to slow in September but 'upside risks' loom amid start of Fed easing
Alexandra Canal • Senior Reporter
Wed, October 9, 2024 at 3:13 PM EDT 3 min read
September's Consumer Price Index (CPI) will serve as the latest test of whether inflation will continue to ease as the Federal Reserve debates its next interest rate decision.
The report, set for release at 8:30 a.m. ET on Thursday, is expected to show headline inflation of 2.3%, a deceleration from August's 2.5% annual gain in prices, which marked the lowest annual rate since early 2021. Over the prior month, consumer prices are expected to have risen 0.1%, down from the 0.2% increase seen in August.
On a "core" basis, which strips out the more volatile costs of food and gas, prices in September are expected to have risen 3.2% over last year, unchanged from August's increase. Economists expect monthly core price increases to slow slightly, estimating an uptick of 0.2% compared to August's 0.3% gain in prices, according to Bloomberg data.
Inflation, although moderating, has remained above the Federal Reserve's 2% target on an annual basis. … But the Federal Reserve has recently shifted its attention to the state of the labor market, which has been surprisingly resilient in the face of high interest rates.
{snip}
Alexandra Canal • Senior Reporter
Wed, October 9, 2024 at 3:13 PM EDT 3 min read
September's Consumer Price Index (CPI) will serve as the latest test of whether inflation will continue to ease as the Federal Reserve debates its next interest rate decision.
The report, set for release at 8:30 a.m. ET on Thursday, is expected to show headline inflation of 2.3%, a deceleration from August's 2.5% annual gain in prices, which marked the lowest annual rate since early 2021. Over the prior month, consumer prices are expected to have risen 0.1%, down from the 0.2% increase seen in August.
On a "core" basis, which strips out the more volatile costs of food and gas, prices in September are expected to have risen 3.2% over last year, unchanged from August's increase. Economists expect monthly core price increases to slow slightly, estimating an uptick of 0.2% compared to August's 0.3% gain in prices, according to Bloomberg data.
Inflation, although moderating, has remained above the Federal Reserve's 2% target on an annual basis. … But the Federal Reserve has recently shifted its attention to the state of the labor market, which has been surprisingly resilient in the face of high interest rates.
{snip}