- Prior +3.8%
- Core CPI +3.5% vs +3.7% y/y expected
- Prior +3.6%
Well, that’s certainly a curveball as the readings underwhelm and are below estimates. Of note, services inflation was unchanged at 4.7% in core terms – even as the fall in prices for airfares this September wasn’t as marked as it was last September. On that front, airfares fell by ~29% this September as compared to the ~35% drop in September last year – which was the steepest since 2001.
This article was written by Justin Low at investinglive.com.