September CPI Report Highlights:

• The Consumer Price Index (CPI) came in 0.1% cooler than expected, with year-over-year inflation moving from 3.0% to 2.9%.
• The Core CPI (which excludes food and energy) was also 0.1% below expectations.
• Shelter costs, making up 44.4% of the Core Index, came in softer than expected.
• Owner’s Equivalent Rent (OER) roughly 33% of the Core Index rose only 0.1%, another encouraging sign of cooling inflation.
• Overall, this is good news for the Fed, supporting the case for continued rate cuts. The next Fed meeting is October 29th, where markets are pricing in a 0.25% to 0.50% cut.

Have a fantastic weekend, see you on the other side!

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