Market Trends & Macro w/ Lyn Alden
The US Consumer Price Index (CPI) for September rose 3.7% annually, coming in slightly hotter than consensus forecasts of 3.6%. So-called core CPI, excluding volatile food and energy categories, declined annually from 4.3% in August to 4.1% last month.
This means that the overall cost of goods and services for US consumers increased by 3.7% over the past year. Core CPI, which is considered a better measure of underlying inflation, increased by 4.1% over the same period.
The annual CPI increase in September was the highest since November 2021. The core CPI increase was the first to decline since December 2021.
The September CPI report shows that inflation remains elevated in the US economy. However, the decline in core CPI suggests that some inflationary pressures may be easing.
Here is a more detailed expansion of the key points in the CPI report:
Annual CPI increase slightly hotter than expected: The 3.7% annual CPI increase in September was slightly higher than the consensus forecast of 3.6%. This suggests that inflation is still running relatively high in the US economy.
Core CPI declines annually for the first time since December 2021: The 4.1% annual core CPI increase in September was the first to decline since December 2021. This suggests that some inflationary pressures may be easing. However, core CPI is still at a relatively high level.
Shelter costs continue to rise: Shelter costs, which account for about one-third of the CPI, continued to rise in September. This is a major factor contributing to overall inflation.
Food and energy prices mixed: Food prices rose slightly in September, while energy prices fell. This helped to offset some of the upward pressure on overall inflation from shelter costs.
Overall, the September CPI report shows that inflation remains elevated in the US economy. However, the decline in core CPI suggests that some inflationary pressures may be easing.
It is important to note that the CPI is a backward-looking measure of inflation. It does not take into account future economic developments, such as the potential impact of the Federal Reserve's interest rate hikes. The Fed is raising interest rates in an effort to bring inflation down to its target level of 2%.
Guest: Lyn Alden, Founder of Lyn Alden Investment Strategy Lyn Alden website ➜ https://bit.ly/LynAldensite
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