September CPI Expected to Show Accelerating Inflation
Economists anticipate that September's consumer price index (CPI) will rise 0.6% month-over-month and 3.6% year-over-year, indicating accelerating inflationary pressures driven in part by rising energy costs. Core CPI is forecasted at a slower 0.2% monthly increase but still shows an uptick to 2.5% annually. Energy prices have surged due to geopolitical tensions, with Brent crude climbing over 14% last month and reaching around $105 per barrel. The Federal Reserve has already raised interest rates for the first time in three years and signaled potential further hikes at its December meeting based on market expectations. Analysts warn that sticky oil prices could spill into other sectors, complicating efforts to treat energy inflation as a temporary shock. The CPI report is also significant ahead of November's midterm elections amid declining economic confidence across political affiliations. The producer price index (PPI) for September is expected to rise 0.6% month-over-month and 5.5% year-over-year, marking another acceleration in inflationary trends.
Topics: CPI economic forecasts inflation oil prices
Part of the story September CPI Expected to Show Accelerating Inflation (2 articles)