💰 Above Expectations: The consumer price index (CPI) saw a rise of 0.4% in September, surpassing the Dow Jones estimate of 0.3%, according to a Labor Department report published Thursday. Annually, the increase was 3.7%, slightly higher than the anticipated 3.6%.
🏠 Shelter Shakes Things Up: Shelter costs, accounting for about a third of the CPI weighting, were the primary factor in the increase in inflation. Shelter costs rose a notable 7.2% annually, contributing to over half of the CPI’s monthly rise.
🚗 Mixed Moves in Markets: While energy costs climbed by 1.5% and food by 0.2%, vehicle prices presented a varied picture. New vehicles saw a 0.3% hike, but used ones dipped by 2.5%. Notably, used vehicle prices, which once fueled inflation, were down 8% year-over-year.