September CPI Report
Investors were hoping for a soft inflation reading to confirm a deceleration in inflation and take some pressure off the Fed. But, despite these hopes, we got another hotter-than expected reading with stickier components driving the upside. Headline CPI eased slightly to 8.2% y/y, but core inflation (excluding food and energy) accelerated to a new 40-year high, up 0.6% on the month and 6.6% y/y.
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