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US CPI Falls Slowly
✦
Koushik Korampalli
October 13, 2024
Written by
Koushik Korampalli
Est read: 0 minutes
US YoY CPI inflation fell to 2.4% in September
This was a 0.1% drop from August when the figure was 2.5%
Expectations thought it would be 2.3% this month
Energy fell by 6.8% YoY
Core inflation rose to 3.3% from 3.2%
Core Inflation removes volatile food and energy prices
This is the first result since the Fed cut rates by the larger than expected 50bps
US Unemployment is also exceeding economists expectations
Americans filing for unemployment insurance jumped to 258,000
This is 30,000 more than expected
After the release of this data and information that unemployment in the US is worsening, bets for a November rate cut are higher than ever
These bets are predicting a 90% chance, compared with the 80% before
Fed Projections predicted indicated 50bps worth of cuts before 2024 end
Chair Jay Powell also alluded to this being in the form of 2 quarter point cuts.
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