Inflation in the US rose to 3.7%

Inflation in the US rose to 3.7%. Consumer prices increased by 0.6% compared to the previous month, with annual inflation reaching 3.7%. In August, this figure stood at 3.4%.

The rise in gasoline prices had the biggest impact on inflation. In September, its price increased by 7.1%. Price increases continued in other categories as well: core inflation, calculated excluding food and energy, was 0.3% monthly, while the annual figure rose from 2.4% to 2.6%.

Following the new data, expectations grew that the Federal Reserve would raise interest rates once again. In September, the Fed raised rates by 25 basis points, bringing the range to 3.75%-4.00%. This was the first increase in the last three years.

Before the inflation data was released, the chance of another rate hike in October stood at around 22%. After the new data, this figure rose to 40%.

The Fed's next meeting will be held on October 27-28.

Source: Reuters