Summary
Core inflation in the U.S. was lower than expected in September, which is considered a positive outcome for President Donald Trump. This may influence the Federal Reserve to consider lowering interest rates in their upcoming meeting.
Key Facts
- Core inflation refers to the cost of goods and services, excluding food and energy.
- Core prices increased by 2.8% in September compared to the previous year.
- This inflation rate was lower than the 2.9% recorded in August.
- The Federal Reserve pays close attention to core inflation when deciding interest rate changes.
- The Federal Reserve's rate-setting committee will meet on December 9 and 10.
- Lower inflation could support President Trump’s push for interest rate cuts.
- The Bureau of Economic Analysis (BEA) provided the inflation data.
