The latest Consumer Price Index data shows that gasoline prices fell nearly 5% in September, but fuel costs are still up more than all other categories since last year.
The Labor Department on Thursday reported an 8.2% year-over-year increase in the consumer price index for September, which sent the SPDR S&P 500 (NYSE: SPY) tumbling lower.
The SPDR S&P 500 (NYSE: SPY) turned negative premarket Thursday after the Labor Department reported an 8.2% year-over-year increase in the consumer price index for September, a potential sign that
U.S. producer prices jumped more than economists had expected last month despite the Federal Reserve's aggressive response to runaway inflation.
What Happened:
The Consumer Price Index (CPI) data for September will be reported on Oct. 13 by the U.S. The Bureau of Labor Statistics. Analysts at JPMorgan Chase & Co and former U.S. Secretary of the Treasury Larry Summers weighed in on what is happening and what could happen.