US Inflation Holds Steady in September While Jobs Growth Accelerates, Keeping Pressure on Fed

US inflation rose 3.7% in September, matching the reading in August and exceeding economist forecasts.

Core inflation, excluding food and energy, held steady at 0.3% month-over-month and rose 4.1% year-over-year.

Gasoline prices jumped 2.1% in September, contributing to higher overall inflation.

The strong September jobs report, with 336,000 positions added, suggests the Fed may continue raising interest rates to combat inflation.

It's unclear if the Fed will hike rates again before year-end given mixed inflation and jobs data.