CPI in the US rises above expectations

The Consumer Price Index (CPI) in the US rose by 0.4 percent on a monthly basis and 3.7 percent on an annual basis in September, coming in above market expectations.

While the clashes that began between Israel and Palestine over the weekend have raised tensions in the Middle East, rising oil prices have also escalated inflation concerns on a global scale.

Markets were expecting the consumer inflation for September, announced today, to show an increase of 0.3 percent monthly and 3.6 percent annually. However, the reported figures—a 0.4 percent increase on a monthly basis and a 3.7 percent increase on an annual basis—were above market forecasts.

CORE INFLATION RECORDED THE SAME INCREASE

While Producer Price Index (PPI) data in the US, which came in above expectations in September and reached the highest annual increase level since April, raised questions in the markets, the CPI announced today also showed an increase above expectations.

Core inflation, which excludes energy and food prices, increased by 3.1 percent in September, in line with expectations. Core inflation recorded the same increase as expected on an annual basis at 4.1 percent.

News Source: 12punto