Inflation remained well above the Fed's target in September ahead of rate cut decision

Core Insights - Inflation remained elevated in September, with the consumer price index (CPI) rising 0.3% month-over-month and 3% year-over-year, up from 2.9% in August [1] - Core prices, excluding volatile food and energy costs, increased by 0.2% from the previous month and 3% year-over-year, both figures slightly below economists' expectations [2] Economic Impact - High inflation has imposed significant financial pressures on U.S. households, particularly affecting lower-income Americans who spend a larger portion of their income on necessities [3] - Food prices rose by 0.2% in September, with a year-over-year increase of 3.1%. The food at home index increased by 0.3% monthly and was 2.7% higher than a year ago, while the food away from home index rose 0.1% month-over-month and 3.7% year-over-year [4]