US September CPI Preview: High Oil Prices Likely to Push Up Headline Inflation; Moderate Core Inflation May Ease Urgency for Rate Hikes

Zhito Finance APP has learned that U.S. consumer prices likely rose sharply in September, driven by higher gasoline and food prices, adding more unfavorable news for U.S. President Trump and the Republican Party ahead of the key midterm elections on November 3. The U.S. Department of Labor will release the Consumer Price Index (CPI) report at 20:30 Beijing time on Wednesday. Economists predict that September CPI may rise 0.6% month-on-month, compared with a 0.4% increase in August. September CPI is expected to rise 3.6% year-on-year, higher than 3.4% in August. The Federal Reserve tracks the Personal Consumption Expenditures (PCE) price index and uses it as a reference indicator for its 2% inflation target.