美国9月CPI：通胀低于预期，打开降息空间

Inflation Data - The U.S. September CPI year-on-year is 3.0%, lower than the expected 3.1% and previous 2.9%[3] - The month-on-month CPI is 0.3%, matching the expected and previous values of 0.4%[3] - Core CPI year-on-year is also 3.0%, below the expected 3.1% and the previous 3.1%[3] Market Reactions - The lower-than-expected CPI data has increased market expectations for interest rate cuts by the Federal Reserve[3] - Following the data release, U.S. stock indices rose, while U.S. Treasury yields and the dollar saw slight increases[3] Energy and Food Prices - Energy prices rose significantly, with a month-on-month increase of 1.5%, up from 0.7% in the previous month[4] - Gasoline prices surged by 4.1%, contributing approximately one-third to the overall CPI increase[4] - Food CPI month-on-month decreased to 0.2%, down from 0.5% in the previous month, indicating a weakening impact from tariffs[4] Core Components - Core goods prices showed slight fluctuations, with a month-on-month increase of 0.2%, down from 0.3%[5] - Used car prices fell significantly by 0.4%, while new car prices increased by 0.2%[5] - Housing prices remained stable, with a month-on-month increase of 0.2%, down from 0.4%[5] Economic Outlook - The moderate inflation performance creates conditions for the Federal Reserve to consider easing monetary policy[5] - Upcoming economic indicators to watch include the FOMC meeting on October 29 and the Q3 GDP release on October 30[5]