"Consumer prices increased 3% in September from a year earlier, the Labor Department said Friday, the highest since January and up from 2.9% in August. Excluding the volatile food and energy categories core prices also rose 3%, down from 3.1% in the previous month. On a monthly basis, price increases slowed: They rose 0.3% in September, down from 0.4% the previous month. Core inflation also cooled to 0.2%, from 0.3% in August."
"So many people have been expecting a sharp rise in consumer prices and been position bearishly, he said, but the latest cool reading shows that "the economy - and corporate America - is more resilient than many expected." Acknowledging that valuations are high and the market has risks, Zaccarelli said it's still "hard to see an interruption of this year's bull market.""
Consumer prices rose 3% year-over-year in September, the highest since January, while core inflation also registered 3%, down from 3.1%. Monthly headline inflation slowed to 0.3% and core monthly inflation cooled to 0.2%. Gas prices jumped as rent inflation cooled, producing a mixed picture of consumer expenses amid steady growth and slow hiring. Earlier tariffs have had less effect than feared because some duties were reduced and many companies absorbed costs rather than fully passing them to consumers. Economists describe inflation as contained, note corporate resilience, and warn businesses may pass costs to consumers if duties persist.
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