The inflation rate in the United States in September was higher than expected, increasing the possibility of the Federal Reserve raising interest rates. Recently, the Federal Reserve has just received an equally strong job market report. According to data from the US Bureau of Labor Statistics, the CPI increased by 3.7% year-on-year, unchanged from last month. Economists had previously expected a slight decline. The monthly CPI rate has dropped to 0.4%, partly due to a decrease in energy price pressure. After excluding unstable energy and food prices, "core" inflation remained stable at 0.3% month on month. Many investors have been willing to overlook the recent rebound in overall inflation rate, as it is driven by energy prices. However, last week's stronger than expected employment data sparked concerns that inflation may remain above the Federal Reserve's 2% target.