The latest U.S. inflation numbers show promising signs for the economy as the Consumer Price Index (CPI) continues to trend down, bringing it closer to the Federal Reserve’s target of 2%.⚠️⚠️

In September, the U.S. CPI grew at an annual rate of 2.4%, slightly higher than the 2.3% estimate but still showing a positive shift from the previous month’s 2.5%.

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⚠️However, the Core CPI, which excludes volatile food and energy prices, came in at 3.3% year-over-year, slightly above the expected 3.2%. While this number is higher than market expectations, it’s worth noting that this is the highest rate since June, signaling that the economy still has work to do in stabilizing inflation in key sectors.

In another significant development, initial unemployment claims surged to 258,000 for the week ending October 5, marking the highest level since early August. This rise in jobless claims indicates potential softness in the labor market, which could factor into future inflationary pressures and Federal Reserve decisions.

As inflation inches closer to the Fed’s goal, the mixed signals from core inflation and rising unemployment will be key factors in determining the central bank’s next move.

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Crypto Analyst realmabbaskhan