Surging Rental Costs Drive Up CPI 0.4% in September, Weighing on Inflation Concerns

Benzinga

The US consumer price index increased by 0.4% in September, mainly due to a surge in rental costs. However, underlying inflation pressures remained moderate, leading to expectations that the Federal Reserve would not raise interest rates next month. The CPI has advanced 3.7% in the past year, down from a peak of 9.1% in June 2022. The core CPI, excluding food and energy, rose 0.3% and 4.1% year-on-year. Economists are waiting for more data to determine if the increase in rental costs is temporary or a significant market shift.

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00:00 Benzinga and here's what's on the block. The U.S. consumer price index increased by 0.4% in September,

00:06 mainly due to a surge in rental costs. However, underlying inflation pressures remained moderate,

00:12 leading to expectations that the Federal Reserve would not raise interest rates next month.

00:16 The CPI has advanced 3.7% in the past year, down from a peak of 9.1% in June 2022.

00:25 The core CPI, excluding food and energy, rose 0.3% and 4.1% year-on-year.

00:31 Economists are waiting for more data to determine if the increase in rental

00:35 costs is temporary or a significant market shift. For all things money, visit Benzinga.com.

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