United States Inflation

United States

United States: Inflation flat in September, persistently low price pressures complicate Fed's interest rate decision

October 16, 2015

In September, consumer prices dropped 0.2% over the previous month in seasonally-adjusted terms, which followed the 0.1% decrease seen in August and marked an eight-month low. The print was in line with market expectations and was mainly driven by lower prices for energy, including gasoline. September’s result marked the second straight monthly decline, which will further complicate the Federal Reserve’s plans for lifting interest rates in the near future.

Inflation was flat in September, which was below August’s 0.2% increase and marked the lowest level in four months. Core consumer prices, which exclude food and energy prices, increased 0.2% in September, which was above the previous month’s 0.1% reading. The figure was also higher than the 0.1% increase expected by the market. Annual average core inflation inched up from 1.7% in August to 1.8% in September.

FocusEconomics Consensus Forecast participants expect inflation to average 0.2% in 2015, which is unchanged from last month’s forecast. For 2016, the panel expects inflation to average 2.0%, which is also unchanged from last month’s estimate.


Author:, Economist

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United States Inflation Chart


USA Inflation September 2015

Note: Year-on-year and month-on-month variation of seasonally-adjusted consumer price index in %.
Source: Bureau of Labor Statistics.


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