$BTC [US CPI growth exceeded expectations across the board, and inflation progress stagnated]
On October 10, according to foreign media reports, the overall inflation growth rate in the United States in September was higher than expected, indicating that the recent progress in easing price pressures has stalled.
Data released by the U.S. Bureau of Labor Statistics on Thursday showed that the core CPI, excluding food and energy, rose 0.3% month-on-month and 3.3% year-on-year, both higher than expected.
Economists believe that core indicators are more reflective of potential inflation than overall CPI.
Higher-than-expected inflation data, coupled with last week's strong U.S. non-farm payrolls report, may intensify the debate over whether the Federal Reserve will choose a small interest rate cut next month or pause the rate cut after a large rate cut in September.
Traders believe that the Federal Reserve is more likely to cut interest rates by 25 basis points next month.
Despite the strong data, inflation is still largely on a downward trend.
The Fed's preferred PCE measure has been moving closer to the Fed's 2% target.
