The annual inflation rate in the US slowed for a sixth consecutive month to 2.4% in September 2024, the lowest since February 2021, from 2.5% in August. However, figures came above forecasts of 2.3%. Prices rose less for shelter (4.9% vs 5.2%) and energy costs declined more (-6.8% vs -4% in August), mainly due to gasoline (-15.3% vs -10.3%) and fuel oil (-22.4% vs -12.1%) while natural gas prices rebounded (2% vs -0.1%). Also, prices continued to fall for new vehicles (-1.3% vs -1.2%) and used cars and trucks (-5.1% vs -10.4%). On the other hand, inflation accelerated for food (2.3% vs 2.1%) and transportation (8.5% vs 7.9%). Compared to the previous month, the CPI rose 0.2%, the same as in August, and above forecasts of 0.1%. Annual core inflation rate unexpectedly edged up to 3.3%, compared to 3.2% in the previous two months while investors were expecting it would stay at 3.2%. The monthly core inflation rate remained at 0.3%, the same as in August but above forecasts of 0.2%. source: U.S. Bureau of Labor
