According to the Bureau of Economic Analysis, inflation stayed strong in September but mostly within expectations. The core personal consumption expenditures price index increased by 0.5% from the previous month and accelerated by 5.1% over the past 12 months.
The Fed has been hiking interest rates in an effort to combat sky-high inflation. Markets widely expect the Fed to enact its fourth straight 75-basis-point rate increase at this week’s policy meeting.
