🇺🇸US inflation rises across the board; markets boost bets on further Fed hikes
US not-seasonally-adjusted CPI rose to 3.7% YoY in September, driven by a fuel-price rebound linked to the Iran conflict; not-seasonally-adjusted core CPI climbed to 2.6% YoY from 2.4% in August, the Bureau of Labor Statistics said. The print sent US Treasury yields higher, pushed gold and silver sharply lower and strengthened the dollar, and led markets to price in three additional Fed rate hikes through end-2027. This is the first uptick in US inflation since May, underscoring persistent energy-price spillovers from the Middle East. Gasoline and diesel surged after the outbreak, eased over the summer, then rallied again as tensions escalated, with diesel reaching record highs. Trump has sought measures to blunt the consumer impact of higher energy costs; polls indicate voter dissatisfaction could tilt midterm support toward Republicans. (https://t.co/hAf40d1wB5)