Washington.- Inflation in the United States, an important issue in the presidential campaign, fell in September compared to the previous month, although a little less than expected, standing at 2.4 percent year-on-year, compared to 2.5 percent in August, according to the CPI index published this Thursday by the Department of Labor, AFP reported.
In one month, prices increased by 0.2 percent, remaining at the same pace as the previous two months, again slightly above expectations.
Analysts expected a year-on-year increase in consumer prices of 2.3 percent, according to the consensus published by MarketWatch, which also forecast inflation of just 0.1 percent in one month. Less than a month before the presidential elections on November 5, a gap persists in the United States between the statistical data, which show a relatively healthy economic situation, and the feeling among many Americans of a sharp increase in prices in recent years. three years.
Inflation peaked at 9.1 percent in June 2022, driven by the economic recovery following the Covid-19 pandemic and the invasion of Ukraine, unprecedented since the early 1980s.
The so-called core inflation, which excludes food and energy prices, considered more volatile, in turn increased 0.3 percent in one month, the same as in August, and 3.3 percent in one year, slightly above the 3.2 percent recorded a month earlier. On the other hand, energy prices continued to fall sharply, 1.9 percent in one month, and prices at the pump fell by 4.1 percent. On the other hand, household food prices rose 0.4 percent in one month, after six months of almost total stability. Regarding housing, another important item that has risen sharply in the last three years, the increase has slowed, reaching just 0.2 percent in one month. However, the Labor Department noted that housing and food accounted for 75 percent of the price increase recorded in September. This new data is the last to be released before the presidential election and the next Federal Reserve meeting. To determine its monetary policy, the Fed relies on the evolution of the PCE index, which will be published at the end of the month. In August, the PCE index fell again to 2.2 percent year-on-year, very close to the Fed’s medium-term target of 2 percent. The Federal Reserve remains cautious on monetary policy, regularly emphasizing that its decisions will depend above all on the evolution of macroeconomic data. In general, markets expect the central bank to decide on a 25 basis point cut at its next meeting, scheduled for November 6 and 7, and another similar one at the last meeting of the year, in mid-December, according to the tool. CME FedWatch.
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