US Inflation Holds Steady in September While Jobs Growth Accelerates, Keeping Pressure on Fed
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US inflation rose 3.7% in September, matching the reading in August and exceeding economist forecasts.
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Core inflation, excluding food and energy, held steady at 0.3% month-over-month and rose 4.1% year-over-year.
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Gasoline prices jumped 2.1% in September, contributing to higher overall inflation.
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The strong September jobs report, with 336,000 positions added, suggests the Fed may continue raising interest rates to combat inflation.
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It's unclear if the Fed will hike rates again before year-end given mixed inflation and jobs data.
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