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Institution: US September Inflation Rate May Rise to New 17-Month High
BlockBeats News, October 23rd, according to the financial website Investopedia, forecasters said that due to tariff-driven price increases, the U.S. September inflation rate may rise to a new 17-month high.
A survey of economists by The Wall Street Journal showed that the CPI report scheduled to be released this Friday may show a 3.1% year-over-year rise in overall prices in December. The rise in inflation will highlight the impact of Trump's tariffs, as the inflation rate has risen almost every month since Trump announced the tariffs in April. Despite the rise in prices, a slower increase in rents may prevent the overall inflation rate from rising too sharply. Core inflation is expected to have risen 3.1% in September, unchanged from August.
All in all, the magnitude of the inflation rise may not be sufficient to prevent the Federal Reserve from cutting rates in late October. The Fed cut rates by 25 basis points in September to support a weakened job market, and now it is more focused on the job market rather than combating inflation. Economists at Wells Fargo, Sarah House and Nicole Cervi, said, "We expect that due to the continued pass-through of tariffs, goods inflation will remain elevated, while the easing in primary housing costs should help alleviate services inflation." (Jinse)
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