US September headline CPI YoY accelerated to the fastest pace since May, driven
by higher fuel costs; core CPI also beat estimates. The report tightens
household budgets ahead of the Nov. 3 midterm elections and keeps inflation
squarely in focus for voters and markets. It is the last inflation print before
the Fed's October meeting and supports market expectations of another Fed rate
hike in coming months even if the committee holds at the next policy meeting. A
Fed official is scheduled to speak Thursday evening New York time at the IMF
meeting in Bangkok.
