US Inflation Slows to 2.4% in September, Strengthening Rate-Cut Bets
US consumer prices rose 2.4% in September from a year earlier, marking the slowest annual pace in nearly four years and coming in below economists’ expectations of 2.6%. The softer reading adds to evidence that inflation continues to cool after a prolonged period of elevated price pressures. The report also showed core CPI, which excludes food and energy, increased 3.3% year over year. While still above the Federal…