Core CPI prices rose 0.1%; retail sales boosted by hurricanes
Core CPI prices were below forecasts, rising 0.1% in September. The year-over-year core CPI inflation rate was unchanged at 1.7% in the month. Overall CPI prices rose 0.5% in September as energy prices jumped 6.1% and food prices rose 0.1%. The 12-month headline inflation rate picked up to 2.2% from 1.9%.
Overall retail sales jumped 1.6% in September, boosted by a 3.6% increase in auto sales and a 5.8% surge in gasoline station sales. Retail sales excluding autos, building materials and gasoline—the component of this report that feeds into the calculation of non-auto consumer goods spending within GDP—rose 0.4% in September (as expected) and these sales for July and August were revised higher.
RDQ Economics provides global macroeconomic consulting services with an emphasis on U.S. economic fundamentals and monetary policy.
Our views are driven by consistent application of classical economic and monetary principles and has generated superior anticipation of changes in the stance of monetary policy and of movements in economic growth and inflation.
The founders of RDQ Economics, John Ryding and Conrad DeQuadros, have a combined experience of 26 years on Wall Street, 12 years of experience in central banking at the Federal Reserve and the Bank of England and nine years in the independent research space. John and Conrad have worked closely with fixed income, foreign exchange, and equity traders and portfolio managers, which has enabled their analysis and advice to be tailored to a clientele that is focused on trading and investment decisions.
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