September CPI came in hot — gasoline did it, and the Fed-hike bet jumped
BLS reported Wednesday morning: headline CPI +0.6% on the month, 3.7% year over year (up from 3.4% in August); core +0.3% on the month, 2.6% year over year — both core prints a tenth above consensus. Gasoline jumped 9.1% in September and accounted for more than half the monthly rise; energy +5.2%, shelter +0.4%, food flat. Markets repriced the Oct. 27–28 Fed meeting toward a possible hike. Diesel's national average is hovering near $6.30/gal, off the $6.53 record set Sept. 21 but rising again. Sources: USA Today · Seeking Alpha.