Instant View: US Sept CPI fortifies case for Fed hawkishness

The Labor Department said on Thursday that the consumer price index increased by 0.4% in September after increasing by 0.1% in August.

Reuters polled economists, and they predicted a 0.2% increase in the CPI.

After increasing by 8.3% in August, the CPI grew by 8.2% for the preceding twelve months to September. 

The annual CPI increased the most since November 1981, reaching a high of 9.1% in June.

 The yield on 10-year Treasury notes increased by 12.4 basis points to a 14-year high.

Consumer prices in the United States rose more than anticipated in September, and underlying inflation pressures were increasing, which raised hopes that the Federal Reserve will raise interest rates by another 75 basis points next month.

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