Consumer prices in the U.S. increased by slightly more than expected in the month of September, according to a report released by the Labor Department on Thursday.
The Labor Department said its consumer price index rose by 0.2 percent in September, matching the increase seen in August. Economists had expected consumer prices to inch up by 0.1 percent.
The report also said core consumer prices, which exclude food and energy prices, climbed by 0.3 percent for the second consecutive month. Core prices were expected to rise by 0.2 percent.
Meanwhile, the Labor Department said the annual rate of consumer price growth slowed to 2.4 percent in September from 2.5 percent in August. Economists had expected the pace of price growth to slow to 2.3 percent.
The annual rate of core consumer price growth accelerated to 3.3 percent in September from 3.2 percent in August, while economists had expected the price of growth to remain unchanged.
The Labor Department also released a separate report on Thursday showing first-time claims for U.S. unemployment benefits increased by much more than expected in the week ended October 5th.
The report said initial jobless claims climbed to 258,000, an increase of 33,000 from the previous week’s unrevised level of 225,000. Economists had expected jobless claims to edge up to 230,000.
With the much bigger than expected increase, jobless claims reached their highest level since hitting a matching figure in the week ended August 5th, 2023.
At 9:15 am ET, Federal Reserve Board Governor Lisa Cook is scheduled to speak on “Entrepreneurship and Innovation” before the Women for Women Summit presented by the College of Charleston School of Business.
Richmond Federal Reserve President Thomas Barkin is due to participate in a fireside chat, “2025 Economic Outlook and Beyond,” before the Virginia Maritime Association 2024 International Trade Symposium at 10:30 am ET.
At 11 am ET, New York Federal Reserve President John Williams is scheduled to give remarks and participate in a moderated discussion on the economic outlook and monetary policy before event organized by Binghamton University.
The Treasury Department is due to announce the results of this month’s auction of $22 billion worth of thirty-year bonds at 1 pm ET.