Summary:
In September, consumer prices increased 3.7% YoY, matching August's gain and slightly surpassing economists' 3.6% forecast.
US CPI
14/11/2023 October
Previous:3.7% | Forecast:3.3%
Consumer prices overall rose 3.7% from a year earlierin September, steady with August's annual gain andlanding a touch above economists' expectations fora 3.6% rise.
However, core inflation cooled for the sixth month in arow and was up 4.1%. It indicates that the Fed's ratehikes are filtering through the economy.
The shelter index accounted for 70% of the monthlycore increase and more than half of the overallmonthly increase. But economists have said thatshelter costs should eventually start to wane as therental calculations are largely a lagging indicator.
Oil prices remain steady but are set for a weekly gain amid concerns of oversupply, economic recovery hopes in China, and rising production.
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Honda and Nissan are in talks to merge by 2026 to compete with Chinese EV makers, amid challenges and declining sales in Japan's car industry.
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Sterling remained flat amid weak UK economic data and holiday trading, with a bearish outlook, though market movement remains limited.
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