WASHINGTON: The US Consumer Price Index for All Urban Consumers rose 0.6 percent on a seasonally adjusted basis in September, the Bureau of Labor Statistics reported. Over the 12 months ending September, the all-items index increased 3.7 percent before seasonal adjustment.
The annual rate was higher than the 3.4 percent recorded for the 12 months ending August and the largest since May. Gasoline rose 9.1 percent in September and accounted for more than half of the monthly all-items increase. The energy index rose 5.2 percent over the month and 20.4 percent over the year.
The index for all items less food and energy — core CPI — rose 0.3 percent in September and 2.6 percent over the year. Shelter increased 0.4 percent. Food was unchanged on the month and up 2.5 percent over the year.
CNBC reported that markets priced higher odds of a rate hike at the Federal Reserve's next meeting. Citing the CME Group's FedWatch tool, it said odds of a hike at the October 27–28 FOMC meeting rose to about 54 percent.
The BLS released the data on Wednesday, October 14. It is the final CPI reading officials will see before that meeting.