Headline Roundup • October 10th, 2024
Annual Inflation Comes in at 2.4% for September
Summary from the AllSides News Team
The annual inflation rate was 2.4% in September, falling from 2.5% in August, but coming in hotter than the 2.3% expectation.
The Data: Core prices, which exclude food and energy, rose 0.3% during the month, slightly above the 0.2% forecast. Given the latest inflation data and jobs report, one economist said that a 50 basis point rate cut would be off the table for November, but the CPI “should be supportive” of a 25 basis point cut.
How the Media Covered It: The data sparked divided coverage. Some emphasized that the data was hotter than expected, while others emphasized that inflation was still falling.
- CNN Business (Lean Left) and the Washington Examiner (Lean Right) were two outlets that highlighted that inflation fell for the sixth month in a row, slowing considerably from its peak two years ago.
- CNBC (Center), Fox Business (Lean Right), and the New York Post (Lean Right) highlighted the overall rise in inflation, using headlines like "Consumer prices rose," and "Inflation rises 2.4% in September, above expectations."
The coverage difference depends on whether you compare the numbers to the long-term downward trend in inflation, or to economists' predictions. Inflation is at its lowest rate since February 2021. The Examiner suggested that the numbers are good news for Harris ahead of the November election.
Featured Coverage of this Story
Inflation continued to cool in September to the lowest level in three years, though the report came in slightly hotter than expected.
The Labor Department on Thursday said the consumer price index (CPI) – a broad measure of how much everyday goods like gasoline, groceries and rent cost – rose 0.2% in September from the prior month and was up 2.4% from a year ago.
Economists predicted that inflation would slow to 2.3% on an annual basis with it rising 0.1% from last month, according to estimates by economists surveyed...
Spencer Platt/Getty Images
Price increases have slowed considerably from their peak two years ago and are now rising at a similar pace to inflation in 2017 and 2018, according to new inflation data released Thursday.
The Consumer Price Index, which measures price changes across commonly purchased goods and services, was 2.4% for the 12 months ended in September, slowing from a 2.5% annual rate in August, according to the latest Bureau of Labor Statistics report.
The pace of price increases over the past year took an unexpected step higher in September as policymakers contemplate their next move on interest rates, according to a Labor Department report Thursday.
The consumer price index, a broad gauge measuring the costs of goods and services across the U.S. economy, increased a seasonally adjusted 0.2% for the month, putting the annual inflation rate at 2.4%. Both readings were 0.1 percentage point above the Dow Jones consensus.
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