The USA inflation beat expectations in September

The USA Department of Labor announced CPI data for September. Accordingly, the cost of living of American consumers increased by 0.4 percent in September compared to the previous month.
The CPI data, which was above market expectations, was expected to increase by 0.3 percent, as in August. Annual inflation is again at its highest level in 13 years. Annual inflation, which rose to its highest level in 13 years, was expected to be 5.3 percent, as it was in August. The increase in food and housing indices was effective in the monthly rise in consumer prices in September. The increase in energy prices continued to be the driving force in the rise in inflation.

In this period, the food index increased by 0.9 percent monthly, while the energy index increased by 1.3 percent. Housing index also increased by 0.4 percent in the same period. Core inflation remained in line with expectations. Core CPI, which does not include variable energy and food prices, increased by 0.2 percent monthly in September, in line with expectations. Core inflation followed a course in line with expectations, increasing by 4 percent on an annual basis. Core CPI increased by 0.1 percent monthly and 4 percent annually in August. Analysts stated that the rise in inflation may continue in the coming months with the increase in energy prices, which raises doubts about the US Federal Reserve's (Fed) view that high inflation is temporary.