Cpi rises 0.6% monthly, 3.7% annually, fueling Fed rate outlook

The Bureau of Labor Statistics released a September CPI report that showed consumer prices rose 0.6% on a monthly basis and 3.7% from a year ago, exceeding the 3.6% annual estimate polled by LSEG.

Core prices, which exclude volatile gasoline and grocery items, climbed 0.3% monthly and 2.6% annually, while energy prices contributed 5.2% monthly and 20.4% annually to the headline CPI.

The Fed will meet on Oct. 27-28, and the market’s expectation of a 25 basis point rate hike rose to 41.5% after the CPI release, according to the CME FedWatch tool.

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