U.S. September CPI data due tonight! Could expectations for the Fed’s October meeting be upended again?
At 8:30 p.m. Beijing time on Wednesday, the U.S. will release its September Consumer Price Index (CPI). The market expects a sharp rise in energy prices to drive a marked acceleration in headline inflation, while price pressures excluding food and energy may remain relatively moderate, making the Federal Reserve’s next policy decision more complicated.
The market broadly expects U.S. CPI to rise 0.6% month over month in September, well above August’s 0.4%; the year-over-year rate is expected to climb from 3.4% to 3.6%. Core CPI is forecast to rise 0.2% month over month, down from 0.3% in August, while the year-over-year rate is expected to edge up from 2.4% to 2.5%.

Oil prices emerge as the biggest wildcard for September inflation