The CPI data released today (October 10, 2024) showed an annual increase of 2.4% for September, slightly above the 2.3% forecast. Core CPI, which excludes food and energy, rose by 3.3% year-over-year. While the inflation rate is higher than expected, it is still the lowest since early 2021. Markets reacted cautiously, with some volatility in equities and bonds, but the Federal Reserve is likely to continue with its planned rate cuts, as inflation is making steady progress towards the 2% target.
