This Week In The Economy: Rent Inflation In September, Another Rate Hike Possible This Year, Global Slowdown Coming In 2024, Oil Markets On Edge

Welcome to a regular snapshot review of U.S. and international economic news that aims to 1) provide a window into the challenges and decisions facing businesses today, 2) determine the direction of economic policy — such as the speed at which central banks decide to raise interest rates, and 3) assess what the impact will be for consumers.

Rent Spike Fuels September’s U.S. Consumer Price Inflation

The Bureau of Labor Statistics reported this week that consumer prices in the United States rose by 0.4% last month, slower than in August, with the pace of core price increases easing up in September on an annual basis compared to August.

Over the last 12 months, the Consumer Price Index increased 3.7% (the same rate as reported in August). Excluding food and energy prices, the CPI rose 0.3% in September, but was up 4.1% year-on-year — compared to a 4.3% jump in August.