US consumer prices rise 3.7% in September as gasoline jumps 9.1%, BLS says

The US Bureau of Labor Statistics reported on Wednesday, 14 October, that the Consumer Price Index for All Urban Consumers (CPI-U) rose 0.6% seasonally adjusted in September and 3.7% over the 12 months ending September.

Headline and core

• Economists polled by Dow Jones had expected a 3.6% year-over-year gain; the previous 12-month reading (ending August) was 3.4%.
• Core CPI (all items less food and energy) rose 0.3% on the month and 2.6% over the year, versus expectations near 0.2% and 2.5%.
• The not-seasonally-adjusted CPI-U index level stood at 336.940 (1982-84=100).

Energy and food

• The gasoline index jumped 9.1% in September and accounted for over half of the monthly all-items increase, BLS said.
• The broader energy index rose 5.2% on the month and 20.4% over 12 months; gasoline was up 34.2% year on year.
• The food index was unchanged in September; food was up 2.5% over the year. Shelter rose 0.4% on the month and 3.2% over 12 months.

Markets sold off after the release: the S&P 500 fell 1.11% to 7,718.94 and the Nasdaq Composite 1.88%, CNBC reported, as investors weighed hotter inflation and pressure on AI-related stocks.