The prices consumers pay for a wide range of goods and services rose more than expected in September as inflationary pressures continued to weigh on the U.S. economy.
The consumer price index for the month rose 0.4% for the month, more than the Dow Jones estimate of 0.3%, according to the Bureau of Labor Statistics. On a 12-month basis, so-called inflation rose 8.2%, from a peak of around 9% in June but still hovering near the highest level since the early 1980s.
Inflation excluding volatile food and energy prices, core CPI rose 0.6% compared to Dow Jones estimates for a 0.4% rise. Core inflation rose 6.6% compared to last year.
In other words, US consumer inflation once again turned out to be stronger than expected in September, dashing market hopes to see the Fed slow rate hikes.
The US dollar index strengthened rapidly with a gain of over 0.4% to trade at 113.718 against six major currencies. BTC price fell by 3% to trade at $18,372.
