- Consumer prices rose 0.4% in September and were up 8.2% from a year ago, according to BLS data released Thursday.
- Excluding food and energy, the core consumer price index accelerated 0.6% and 6.6%, respectively. The yearly gain for core was the highest since August 1982.
- Worker wages took another hit, falling 0.1% monthly and 3% year over year when adjusted for inflation.
- Markets now expect the Fed could institute consecutive 0.75 percentage point rate hikes in November and December.
Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy.
The consumer price index increased 0.4% for the month, more than the 0.3% Dow Jones estimate, according to the Bureau of Labor Statistics. On a 12-month basis, so-called headline inflation was up 8.2%, off its peak around 9% in June but still hovering near the highest levels since the early 1980s.
Excluding volatile food and energy prices, core CPI was even higher for the month, accelerating 0.6% against the Dow Jones estimate for a 0.4% increase. Core inflation was up 6.6% from a year ago, the biggest 12-month gain since August 1982.
RandyMarsh
Article URL : https://www.cnbc.com/2022/10/13/consumer-price-index-september-2022-.html