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US September CPI Rises to 3.7%, Core Inflation Beats Forecasts
Qadir Ak is the founder of Coinpedia. He has over a decade of experience writing about technology and has been covering the blockchain and cryptocurrency space since 2010. He has also interviewed a few prominent experts within the cryptocurrency space.
US inflation accelerated in September, with headline Consumer Price Index (CPI) rising 3.7% year-over-year, above the 3.6% forecast and 3.4% previous reading. Monthly headline CPI increased 0.6%, matching expectations. Core CPI rose 2.6% annually, exceeding the 2.5% estimate and 2.4% prior reading. Monthly core inflation reached 0.3% against expectations of 0.2%. The hotter-than-expected data could reduce near-term Federal Reserve rate-cut expectations and increase pressure for higher interest rates.
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