September inflation data came in cooler than expected, reinforcing bets that the Federal Reserve will press ahead with interest-rate cuts — and giving President Donald Trump a narrative win as he touted that his tariffs aren't fueling broad-based price increases.
The headline Consumer Price Index rose 3% year-over-year, according to Friday's report from the Bureau of Labor Statistics –released after a nine-day delay due to the government shutdown. That was below the expected 3.1% and up slightly from 2.9% in August.
