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- September's year-over-year change in the Consumer Price Index was 3.7%.
- That's the same as the year-over-year increase of 3.7% in August.
- Core CPI increased 4.1% from September 2022 to September this year.
Inflation is still elevated and held steady in September, based on Consumer Price Index or CPI data out Thursday.
The Consumer Price Index grew 3.7% over the 12 months ending September, above the forecast of 3.6%. September's increase was the same as the previous change of 3.7%. August's year-over-year change showed inflation rising quicker after July's year-over-year change of 3.2%.
CPI rose 0.4% from August to September, below the previous increase of 0.6%. The month-over-month increase was higher than the month-over-month forecast of 0.3%.
Core CPI, which excludes food and energy, also increased 4.1% from September 2022 to September of this year. The forecast was 4.1% and the prior year-over-year increase was 4.3%. The year-over-year increase in this index had been falling, based on data before Thursday's data release.
Core CPI index increased 0.3% from August to September. The forecast and the prior month-over-month increase were both 0.3%.
Meanwhile, job growth data for September showed more jobs added in September than recent months. The US added 336,000 nonfarm payrolls in September, following an increase of 227,000 in August.
Julia Pollak, chief economist for ZipRecruiter, told Insider the recent jobs report out earlier this month with data up to September was "a best of all worlds type jobs report."
"It suggests that the Fed can have its cake and eat it," Pollak added. "There's no trade-off between job growth and inflation."
Additionally, the percent increase in the Producer Price Index cooled based on new data out Wednesday. The index for final demand increased 0.5% month over month from August to September — after a 0.7% increase in August and 0.6% increase in July.
"While the disinflationary impulse from easing supply chain strains is largely over, the all-important PPI for trade services — a proxy for margins — has shown significant disinflation which should in turn feed into lower consumer price inflation," Gregory Daco, EY's chief economist, said in recent commentary.
This is a developing story. Please check back for updates.