Despite the interest rate hike by the Federal Reserve Council (Fed), inflation is still high in the United States. Year-to-year data showed core inflation, which measures the rise in consumer prices excluding food and energy, was three-tenths higher than in August and seven-tenths higher than in July.
Data released by the Bureau of Labor Statistics (BLS) on Thursday showed U.S. inflation fell again for the third month in a row in September, to 8.2% year-on-year, a tenth of what it was in August. . ).
Compared to the previous month, consumer prices rose four-tenths after rising slightly in August.
According to data compared to the previous year, the core inflation rate (measuring the rise in consumer prices excluding food and energy) has risen by 6.6% and is 7 times higher than in August, one -third and July.
Meanwhile, the energy price index was 19.8% in the 12 months to September compared to 23.8% in August. and that of food finished at 11.2%.
On a month-to-month basis, September’s gains were spurred by higher housing, food and medical prices, offset by a 4.9% drop in gasoline.
In fact, the food index rose 0.8% compared to August, while the energy index fell 2.1% thanks to the drop in gasoline, while natural gas and electricity rose 2.9% and 0.4% respectively.
Core monthly inflation rose 0.6% in September, the same as in August.
Besides housing and healthcare, auto insurance, new cars and education also increased from August.
By contrast, prices for used cars, telecoms and clothing fell in September.
Inflation remains high in the United States despite interest rate hikes by the Federal Reserve (Fed). The Fed decided to raise interest rates by 0.75 percentage points at its last meeting in September. We will reduce the price.
Inflation hit a 40-year high of 9.1% in June, but began to ease to 8.5% in July.
According to his excerpt from the minutes of the Federal Reserve’s final meeting released Wednesday, members of the central bank’s Federal Open Market Committee said unemployment must rise domestically for inflation to fall. I anticipate that I will have to.
At a meeting held on September 20-21, participants “emphasized that the costs of doing nothing to curb inflation probably exceed the costs of doing too much.”
Regarding shortages, the Fed expects inflationary pressures to persist in the near term, citing labor market conditions, continued problems in supply chains, and rising service prices as supporting factors for this forecast.
In the medium term, they predict a gradual decline in prices over the next few years.
In discussions on future measures, members of the committee stated that a new rise in interest rates would be “appropriate” and will maintain a “restricted political stance.”
With interest rates rising, the Fed released its economic forecasts in September. The forecast puts interest rates at his 4.4% by the end of 2022, beating his forecast in June by one point.
He expects interest rates to rise slightly to 4.6% by the end of 2023 and fall to 2.9% by the end of 2025.
Source: Biobiochile
