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Inflation rate hit 2.4% in September, topping expectations; jobless claims highest since August 2023

Discussion in 'Too Hot for Swamp Gas' started by okeechobee, Oct 10, 2024.

  1. Oct 10, 2024 #1
    okeechobee

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    Key Points
    • The consumer price index increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%. Both were 0.1 percentage point higher than forecast.
    • Excluding food and energy, core prices rose 0.3% on the month, putting the annual rate at 3.3%. Both core readings also were 0.1 percentage point above forecast.
    • Initial filings for unemployment benefits took an unexpected turn higher, hitting as seasonally adjusted 258,000 for the week ending Oct. 5, the highest total since Aug. 5, 2023.
    Inflation rate hit 2.4% in September, topping expectations; jobless claims highest since August 2023

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    I think it will be a long while before we see another cut in the Fed funds rate. The Fed knew the risk of inflation picking back up, but they went with a half-point cut because they sense trouble with employment lingering on the horizon. The jobless claims point to that end, but as I said then, they could have done a quarter point cut first to test the waters. They only did a half-point cut because they are worried about something.
     
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  2. Oct 10, 2024 #2
    WarDamnGator

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    LOL… this guy still doesn’t understand what he’s reading, Sept CPI was 2.5%.. now it’s 2.4%…. That’s lower…
     
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  3. Oct 10, 2024 #3
    AzCatFan

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    Fed cuts are usually .25%. A half point cut is larger than usual.

    As for the inflation report, 2.4% might be .1% higher than anticipated, but still represents a drop in inflation rate by .1%. In other words, the needle is still moving down, even with the rate cut.
     
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  4. Oct 10, 2024 #4
    gatorchamps960608

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    0.1 increase! Oh, no.

    Not even worth a one handed typing post.
     
  5. Oct 10, 2024 #5
    AzCatFan

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    It's actually a .1% decrease. But the expectations was a .2% decrease. The hurricanes aren't going to help. Home insurance and other insurance rates are going to increase.
     
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  6. Oct 10, 2024 #6
    WarDamnGator

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    “0.1 higher than forecasted” … inflation still declined, just not as much as expected forecasted.
     
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  7. Oct 10, 2024 #7
    dangolegators

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    Good report. Inflation continues to drop. And the unemployment rate dropped last week too. Everything is going in the right direction.
     
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  8. Oct 10, 2024 #8
    NavyGator93

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    Yeah, that's killing the maga crowd. They are actively routing against America.

    Weird.
     
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  9. Oct 10, 2024 #9
    mdgator05

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    From the great mind that couldn't understand annualization, we get 2.4 > 2.5...
     
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