US September CPI likely locks another 75 bps rate hike at next FOMC meeting – Wells Fargo – by MSalordFX Inflation UnitedStates CPI Banks
ks the Federal Reserve into another 75 basis points rate hike at its next meeting in November. They point out that past November, they are confident that inflation should move discernibly lower in the coming months. rose 0.4% in September, once again coming in above consensus expectations and demonstrating that inflation continues to bear formidable momentum. Excluding food and energy prices, core CPI inflation rose 0.6% in September and 6.6% over the past year—a fresh cycle high.
“Lower gasoline prices have been a powerful balm on inflation this summer, but in recent weeks gas prices have again headed higher in a still-fraught geopolitical environment. Moreover, with core CPI running at a 6.0% annualized pace the past three months, there remains a long way to go before the trend in inflation reaches a pace the Fed can live with.”Information on these pages contains forward-looking statements that involve risks and uncertainties.
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