Consumer prices in the United States rose 0.4 percent month-on-month in September. Compared to the previous month, this is an increase of 0.3 percentage points. In year-on-year terms, inflation remained above the eight percent mark.
Is the US waiting for another increase in the base interest rate?
The Federal Reserve is likely to raise its key interest rates again by 0.75 percentage points in early November. According to some expectations, the next “hike” could be even tighter, by an equal percentage point. The reason is the September inflation, which in year-on-year terms remained above the eight percent mark, and even accelerated significantly in month-on-month measurements.
A drop in gasoline prices
According to the Bureau of Labor Statistics, there was a month-on-month drop in gasoline prices of almost five percent. Fuels as a whole were cheaper by 2.7 percent. Used cars (by 1.1 percent) and medical equipment (0.1) also became cheaper. Gas prices rose by almost three percent, and transport services by less than two percent.
The growth rate of food prices remained the same in September as in August, at 0.8 percent. In year-on-year terms, the prices of heating oils (58.1) and natural gas (33.1) rose the most. The prices of medical equipment increased at the lowest rate (by 3.7 percent).
