On Thursday, investors will watch closely for one of the most important data points the Federal Reserve will consider in its next interest rate decision: September's Consumer Price Index .Over the prior month, consumer prices are expected to have risen 0.3% in September, a slower clip than August's 0.6% monthly increase., are expected to have moderated last month, with Bank of America anticipating a modest month-over-month increase of 0.4% following the 5.6% jump seen in August.
Monthly core prices are expected to have climbed 0.3%, matching August's monthly rise. Within core, used car prices are expected to have fallen further last month, after dropping 1.2% month-over-month in August and 1.3% in July. Federal Reserve Chair Jerome Powell holds a press conference in Washington, D.C., the United States, Sep. 20, 2023. Inflation has remained significantly above the Federal Reserve's 2% target.