According to Bloomberg on the 12th, US consumer prices have risen rapidly for the second consecutive month, which may lead to inflationary pressure exceeding the Federal Reserve's target and strengthen the Fed's intention to maintain high interest rates to reduce inflation.
According to data released by the US Bureau of Labor Statistics on the 12th, the core consumer price index (excluding food and energy costs, CPI) increased by 0.3% in September. The recent inflation data may lead to price pressures higher than the Federal Reserve's target. Despite the recent surge in bond yields, most officials at last month's meeting deemed it necessary to raise interest rates again this year. If inflation in the United States does not cool down, interest rate hikes may come again.
American families are still struggling with the high cost of many essential items. This year, the price of medical services has experienced the largest increase, with a significant increase in hospital stay. In 2023, the increase in electricity costs was also the largest, with pump prices continuing to rise. Meanwhile, American wages are no longer keeping up with the pace of inflation. Another report on the 12th showed that income adjusted for inflation has decreased for the second consecutive month.