Market Wire: Core Inflation Accelerates More Than Anticipated, Raising Rate Expectations
Core US consumer prices climbed by more than expected in September, hitting a four-decade high as inflation pressures broadened across most services sectors. According to data released by the Bureau of Labor Statistics this morning, the headline consumer price index rose 8.2 percent in September from the same period last year, up 0.4 percent on a month-over-month basis. Economists polled by major data providers ahead of the release expected an 8.1 percent annual gain and a 0.2 percent increase relative to August. A -2.1 percent month-over-month drop in energy prices — helped by an -4.9 percent tumble in the gasoline...