U.S. inflation data higher than expected, but Fed may still cut rates

BlockBeats news, on October 10, the agency said that the US CPI rose slightly more than expected in September, but the annual inflation rate was the smallest in more than three and a half years, which may cause the Federal Reserve to continue to cut interest rates next month. The CPI rose 2.4% in September, the smallest year-on-year increase since February 2021, and the increase in August was 2.5%.

The annual growth rate of inflation has slowed from the peak of 9.1% in June 2022, coupled with a sharp slowdown in the inflation indicators tracked by the Federal Reserve to achieve its 2% target, which allowed the Federal Reserve to shift its focus to the labor market and cut interest rates by an unusually large 50 basis points in September. (Jinshi)