Huatai Securities said in a research note September US core CPI was hotter than expected on a MoM basis; an unexpected rise in shelter was the main driver and other components also showed broad-based warming. The firm said the data point to potentially broader inflationary pressure, but given recent Fed officials' comments and already tighter financial conditions, it still expects the Fed to pause in October and deliver one rate hike in December.

2026-10-15

Huatai Securities said in a research note September US core CPI was hotter than expected on a MoM basis; an unexpected rise in shelter was the main driver and other components also showed broad-based warming. The firm said the data point to potentially broader inflationary pressure, but given recent Fed officials' comments and already tighter financial conditions, it still expects the Fed to pause in October and deliver one rate hike in December.