The Consumer Price Index for All Urban Consumers (CPI-U) increased by 0.2 percent in September on a seasonally adjusted basis, mirroring the rises in August and July, according to the U.S. Bureau of Labor Statistics.
Over the past year, the overall CPI has climbed by 2.4 percent before seasonal adjustments. In September, the shelter index rose by 0.2 percent, and food prices increased by 0.4 percent. These two categories contributed over 75 percent of the total monthly rise in the all-items index. Specifically, the food at home index went up by 0.4 percent, while food away from home rose by 0.3 percent.
On the other hand, the energy index declined by 1.9 percent, following a 0.8 percent drop in the previous month. Excluding food and energy, the index increased by 0.3 percent in September, matching the previous month’s rise. Categories such as shelter, motor vehicle insurance, medical care, apparel, and airline fares saw price hikes, while recreation and communication indexes recorded declines.
For the year ending in September, the all-items index rose by 2.4 percent, the smallest annual increase since February 2021. The index excluding food and energy rose by 3.3 percent over the last year, while the energy index dropped by 6.8 percent. The food index rose by 2.3 percent over the same period.
Source: U.S. Bureau of Labor Statistics
The euro held steady near 1.1660 on Friday, supported by hopes of a Russia-Ukraine peace summit and weaker U.S. economic data that fueled Fed rate cut expectations.
Markets showed cautious strength in early August as expectations for U.S. interest rate cuts continued to grow following weaker labor data and renewed tariff threats.
Global markets are locked on the Federal Reserve as softer U.S. jobs and services data reignite hopes for rate cuts, lifting the euro above $1.1570 and driving gold and silver to multi-week highs.
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