Weekly Bottom Line

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Weekly Bottom Line

On October 19, 2021, Posted by , In Weekly Bottom Line, With No Comments

  • The consumer price index rose 0.4% in September, sending year-on-year inflation to 5.4%. Core prices (excluding food and energy) rose 0.2% on the month and held steady at 4.0% y/y. A 0.4% increase in the heavily-weighted shelter component provided considerable lift to the core measure.
  • Retail sales defied expectations for a pullback in September, rising by 0.7% on the month. Gains were broad based.
  • Minutes from the FOMC’s September meeting showed increasing concern among members over the persistence of inflation and a move toward tapering asset purchases. A formal announcement is likely to come at the next Fed meeting.

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