US September CPI Rises to 3.7 Percent
US consumer prices accelerated in September due to higher energy costs, with annual inflation rising to 3.7 percent. The stronger-than-expected data pushed Treasury yields higher and increased expectations for further interest rate hikes.
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United States consumer prices accelerated in September as a 7.1% surge in gasoline costs drove headline inflation to 3.7%, putting a rate hike back on the table. The Consumer Price Index rose 0.6% last month following a 0.4% gain in August, matching economist expectations. Stubborn underlying price pressures are complicating the central bank's path forward as bond yields surge and equity markets pull back.
