US Inflation Accelerates to 3.7% in September, Exceeding Expectations

The U.S. Consumer Price Index (CPI) rose 0.6% in September, bringing the annual inflation rate to 3.7%, surpassing economists' forecast of 3.6%. Core CPI, which excludes volatile food and energy prices, also exceeded expectations, rising 0.3% monthly and 2.6% annually. This acceleration, primarily driven by soaring energy costs, is expected to intensify pressure on the Federal Reserve to consider further interest rate hikes.