US September CPI +2.3% vs +2.4% y/y expected

Author: Adam Button | Category: News

US September 2018 CPI data

  • Prior was +2.7% y/y
  • Ex-food and energy +2.2% vs 2.3% exp
  • Avg weekly earnings +1.1% y/y vs +0.5% prior
  • Avg hourly earnings +0.5% vs +0.2% prior

Month-over-month data:

  • CPI % vs +0.2% exp
  • Prior +0.2%
  • Ex food and energy 0.1% vs +0.2% exp
  • Prior ex food and energy +0.1%

Softer CPI should give the market a breather but the rise in wages may spark some jitters. The shelter portion of CPI was the story here as it accounted for half of the overall rise in monthly CPI.

From the BLS: "The index for all items less food and energy rose 0.1 percent in September, the same increase as in August. The shelter index increased 0.2 percent, and the indexes for apparel, motor vehicle insurance, recreation, and airline fares also rose. The medical care index increased as well, though its components were mixed. The index for used cars and trucks, which fell sharply, and the new vehicles index were among the indexes that declined in September."

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