The rate-setting Federal Open Markets Committee (FOMC) reveals its next decision on 1 November. The Federal Reserve, the US equivalent of the Bank of England, left borrowing costs unchanged last month in a range between 5.25% and 5.5%, following an 18-month period that had been dominated by consecutive bouts of monetary tightening to rein in stubbornly high inflation.Īs with other central banks worldwide, the Fed is required to maintain long-term inflation at a level of 2%. The Bureau blamed housing for over half of the September increase, adding that an increase in fuel was also a “major contributor” to a rise in the ‘all items’ inflation figure.Īs expected, the core CPI figure, which strips out volatile food and energy prices, rose by 0.3% in September, taking the 12-month figure to 4.1%, down from 4.3% in August. The US Bureau of Labor Statistics reported today that the Consumer Price Index (CPI) for All Urban Consumers rose month-on-month by 0.4% on a seasonally adjusted basis in September, having risen by 0.6% in August. Headline US inflation stood at 3.7% in the year to September 2023, unchanged from a month earlier, writes Andrew Michael. Interest Rates & Inflation: US Prices Hold Steady As Fed Digests Bumper Jobs Growthġ2 October: Next Rates Decision Remains Difficult To Call You should always check with the product provider to ensure that information provided is the most up to date. While we work hard to provide accurate and up to date information at the time of publication that we think you will find relevant, Forbes Advisor does not and cannot guarantee that any information provided is complete and makes no representations or warranties in connection thereto, nor to the accuracy or applicability thereof. The compensation we receive from advertisers does not influence the recommendations or advice our editorial team provides in our articles or otherwise impact any of the editorial content on Forbes Advisor. These “affiliate links” may generate income for our site when you click on them. Second, we also include links to advertisers’ offers in some of our articles. This site does not include all companies or products available within the market. The payments we receive for those placements affects how and where advertisers’ offers appear on the site. This comes from two main sources.įirst, we provide paid placements to advertisers to present their offers. To help support our reporting work, and to continue our ability to provide this content for free to our readers, we receive payment from the companies that advertise on the Forbes Advisor site. The Forbes Advisor editorial team is independent and objective.
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