• In September, the Consumer Price Index (CPI) released by the Labor Department revealed higher-than-expected inflation, primarily driven by increased housing and energy costs. This development has raised concerns about a potential interest rate hike by the Federal Reserve. The data from the CPI for September indicated a 3.7% year-over-year increase and a 0.4% monthly increase, slightly surpassing analysts' forecasts of 3.6% annual and 0.3% monthly inflation rates.

• The annual reading for September matched the year-over-year pace of 3.7% observed in August but marked a decline from August's monthly increase of 0.6%. Higher housing costs played a significant role in driving prices higher, accounting for more than half of the monthly inflation increase. Gasoline costs also contributed to the overall inflation, with the energy index rising by 1.5% over the month. Additionally, prices of both at-home and outside food experienced increases.