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MNI BRIEF: US Sept CPI Hotter Than Forecast; Claims Higher Too

Initial jobless claims for the Oct. 5 week was the highest since June 2023.

MNI (WASHINGTON) - U.S. inflation in September was slightly firmer than markets expected, while initial claims for unemployment insurance also rose to the highest level since June 2023, according to Bureau of Labor Statistics reports Thursday. The Federal Reserve is watching both price and labor market data closely as officials debate how quickly to lower interest rates this year and next. (See: MNI: Job Boom Means Slower Fed Cuts, Pause Possible - Ex-Staff)

Headline CPI added 0.180% in September and core rose 0.312%, bringing the 12-month measures to 2.4% and 3.3%, respectively. Wall Street had expected a tenth less on both measures. Shelter prices increased 0.2%, with owners equivalent rent adding 0.3%, on the lower end of estimates. Core services prices outside of housing, or supercore CPI, accelerated to 0.404% from 0.328% the previous month. 

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MNI (WASHINGTON) - U.S. inflation in September was slightly firmer than markets expected, while initial claims for unemployment insurance also rose to the highest level since June 2023, according to Bureau of Labor Statistics reports Thursday. The Federal Reserve is watching both price and labor market data closely as officials debate how quickly to lower interest rates this year and next. (See: MNI: Job Boom Means Slower Fed Cuts, Pause Possible - Ex-Staff)

Headline CPI added 0.180% in September and core rose 0.312%, bringing the 12-month measures to 2.4% and 3.3%, respectively. Wall Street had expected a tenth less on both measures. Shelter prices increased 0.2%, with owners equivalent rent adding 0.3%, on the lower end of estimates. Core services prices outside of housing, or supercore CPI, accelerated to 0.404% from 0.328% the previous month. 

Keep reading...Show less