Here's the inflation breakdown for September 2024 — in one chart

Published On Oct 10, 2024, 10:52 AM

In September 2024, the Consumer Price Index (CPI) increased by 2.4% compared to the same month last year, indicating a slight decline in inflation rates due to falling gasoline prices and moderated housing costs. While this figure represents a decrease from 2.5% in August, it's the lowest annual increase since February 2021. Some areas, such as groceries and car insurance, showed price increases, but these are seen as temporary. Analysts suggest the overall inflation trend remains positive, overall easing pressure on consumers.

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Stock Forecasts

XLYView XLY chart on TradingView

Positive

The decline in inflation rates may lead to renewed consumer confidence and spending, supporting various sectors, particularly those sensitive to consumer behavior.

QQQView QQQ chart on TradingView

Positive

As inflation eases, interest rates may stabilize or decrease, benefiting growth stocks and sectors that are interest-sensitive.

SPYView SPY chart on TradingView

Negative

However, sectors tied to essential goods like groceries or insurance could face challenges if inflation persists in those areas despite the broader trend.

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