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U.S. CPI Rose By 5.4% In September, Higher Than Expected

U.S. CPI Rose By 5.4% In September, Higher Than Expected

The US Department of Labor announced that the Consumer Price Index (CPI) for September was 5.4% year-on-year, expected 5.3%, and the previous value was 5.3%; the US September core CPI was 4% year-on-year, expected 4%, and the previous value 4%. The U.S. CPI has risen more than expected, which means that inflationary pressures still exist. At the same time, as the demand for natural gas, coal, and oil exceeds supply, a crisis of energy shortages has emerged over the world. Since the beginning of 2021, the price of natural gas in the European Union has risen several times. Also, the price of coal soaring has forced China to limited electricity supply in September. And to limited the working hour of factories, affecting the global supply chain.
   After the data was released, the U.S. stock market, indexes, and futures have turned from growth into a downfall. The Nasdaq Composite Index and futures fell 0.01%, the Standard & Poor's 500 Index fell 0.11%, and the Dow Jones Industrial Average fell 0.17%. Data show that the possibility of the Fed raising interest rates by 0.25% in September next year is as high as 90%.
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