U.S. CPI in September rises 3.7% on year

미 9월 소비자물가 3.7%↑ 연준 중시 물가지표는 둔화 지속

U.S. inflation rose higher than expected in the month of September, due to higher gas and rent prices.
However, food price inflation is at its lowest since March 2021.
Lee Seung-jae with the latest figures.

According to the latest data released Thursday by the U.S. Bureau of Labor Statistics, U.S. consumer prices remained high in September due to rising gas and rent costs.
The September Consumer Price Index rose 3-point-7 percent on year, holding steady with August's on-year gains, but slightly higher than economists’ expectations of a 3-point-6 percent rise.
On month, inflation was up zero-point-four percent.
Statistics also show that the shelter index, which is largely a measurement of rental leases as well as the implicit rental value of owner-occupied properties, accounted for 70-percent of the monthly core increase and more than half of the overall monthly increase.
If the rise in shelter prices is removed from the overall CPI, core CPI rose just 0-point-1 percent for the month and is up 2-percent on year, the lowest annual increase that the index has recorded since March 2021.
Also, food price inflation is at its lowest rate since March 2021, matching the month's on-year rise of 3-point-7 percent.
It also marks the first time since early 2022 that food prices did not outpace overall inflation.
Meanwhile, U.S. stocks sank on Thursday, ending a four-day streak,. due to the unexpectedly high inflation reading which sparked concern about higher interest rates by the U.S. Fed before the end of the year.
The Dow Jones Industrial Average shed zero-point-5 percent, with the tech-heavy NASDAQ also sinking zero-point-six percent on the day.
Lee Seung-jae, Arirang News.

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2023-10-13, 09:00 (KST)