Inflation Rises 3% In September As Fed Considers Further Rate Cuts

Benzinga

U.S. inflation rose 3% in September, slightly below forecasts, as the Fed weighs another rate cut after a hiring slowdown. The delayed report followed the government shutdown, with officials prioritizing Social Security calculations.

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00:00It's Benzinga, bringing Wall Street to Main Street.

00:02Inflation edged up in September as consumer prices rose 3% from a year earlier,

00:07outpacing a 2.9% gain from August, according to The Wall Street Journal.

00:11The increase came in just below economists' expectations for a 3.1% rise.

00:15Core inflation, excluding food and energy, also climbed 3%, below forecasts for 3.1%.

00:20Economists and policymakers are closely watching the latest inflation report

00:24after a summer hiring slowdown led the Federal Reserve to cut interest rates in September.

00:28The inflation report was released more than a week late

00:30due to a government shutdown that halved an economic data collection.

00:33Officials prioritize its release to calculate Social Security cost of living adjustments,

00:37while jobs data remains delayed.

00:40Beneficials are expected to cut rates again next week

00:42and remain divided over how much to reduce them,

00:44as President Trump pushes for deeper cuts to lower borrowing costs.

00:47For all things money, visit Benzinga.com.

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