SUMMARY OF US SEPTEMBER CPI REPORT:

1. U.S. CPI rose 0.4% on the month, above expectations of 0.3%.
2. Headline CPI held steady at 3.7% Y/Y, compared to forecasts for a slower increase of 3.6%.
3. The annual CPI rate is at the highest level since May 2023.
4. U.S. core CPI rose 0.3% M/M, matching estimates.
5. Headline core CPI slowed to 4.1% Y/Y from the 4.3% reading in August.
6. The annual core CPI rate fell to the lowest level since September 2021.

Key Takeaway: Sticky and persistent inflation will force the Fed to raise interest rates at least one more time before the end of the year and then leave them at higher levels for longer.
Taking that into consideration, the Fed’s inflation battle is far from over.

As oil and food commodity prices continue their upward trend, CPI could potentially climb back towards 5% by year-end.
As such, inflation levels could remain elevated for a more extended duration than is presently anticipated by financial markets. $S&P 500 Index (.SPX.US)$ $Nasdaq Composite Index (.IXIC.US)$ $Dow Jones Industrial Average (.DJI.US)$ $Invesco QQQ Trust (QQQ.US)$ $SPDR S&P 500 ETF (SPY.US)$

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