US CPI fell to 2.4% in September

U.S. inflation fell to 2.4% in September, down from a year-on-year increase of 2.5% in August but higher than economists' expectations of 2.3%. The Fed is considering another rate cut at its next meeting in November. The latest CPI report marks the sixth consecutive month of decline in annual headline inflation.

After the data was released, traders increased their bets on a 25 basis point rate cut by the Federal Reserve in November. Analysts said that the monthly rate of headline inflation in the United States in September was also one-tenth of a percentage point higher at 0.2%, which increased the case for a 25 basis point rate cut next month.

Institutional comments on the Fed's September inflation said that the U.S. CP| rose slightly higher than expected in September, but the annual rate of inflation was the smallest in more than three and a half years, which may lead the Fed to continue to cut interest rates next month. The CPI rose 2.4% in September, the smallest year-over-year increase since February 2021, and compared with a 2.5% increase in August.