Data released moments ago by the US Bureau of Labor Statistics showed that the Consumer Price Index (CPI), which measures inflation, rose by 0.6% in September after a 0.4% increase in August, matching market expectations. The core CPI, which excludes food and energy prices, remained unchanged at 0.3%, the same as August and higher than the expected 0.2% increase.

Meanwhile, the annual CPI over the past 12 months rose to 3.7%, up from 3.4% in August and also exceeding expectations. The core annual CPI rose to 2.6% from 2.4%. In detail, the energy index recorded a 5.2% increase in September on a monthly basis, compared to a 2.1% increase in August, and rose by 20.4% on an annual basis from 16.3% in August. Meanwhile, the food index rose in September to 2.5% on an annual basis from 2.7% in July and 0.0% on a monthly basis, while the housing and shelter index rose by 0.4% on a monthly basis from 0.2% and to 3.2% on an annual basis.