American inflation came in a touch lower than markets expected, partly because shelter costs took a breather. That gives the Federal Reserve a clear runway for at least one, maybe two, rate cuts this year—before someone reminds them that inflation is supposed to have a 2-handle.
Here's the CPI scoreboard for September:
- Headline (y/y): 3.0% (est. 3.1% | prior 2.9%)
- Headline (m/m): 0.3% (est. 0.4% | prior 0.4%)
- Core (y/y): 3.0% (est. 3.1% | prior 3.1%)
- Core (m/m): 0.2% (est. 0.3% | prior 0.3%)
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