Inflation rises 2.4% in September, above expectations
Published On Oct 10, 2024, 8:32 AM
In September, the Consumer Price Index (CPI) rose by 2.4% year-over-year, slightly above economists' expectations of 2.3%. Month-to-month, prices increased by 0.2%. Core inflation, which excludes food and energy prices, was up 3.3% year-over-year and 0.3% from the previous month, again slightly exceeding forecasts. The report indicates that while inflationary pressures are easing, they remain above the Federal Reserve's target of 2%, with significant increases in shelter and motor vehicle insurance costs contributing to the inflation rise.
Stock Forecasts
XLF
Negative
Given the slightly higher than expected inflation data, the Federal Reserve may maintain or increase interest rates, which could negatively impact stock prices, particularly those sensitive to interest rate changes.
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