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U.S. inflation cooled in September: consumer prices rose 0.3% on the month and 3% year over year, both below forecasts, the Bureau of Labor Statistics said during the government shutdown. Core CPI increased 0.2% monthly and 3% annually. Gasoline jumped 4.1%, food rose 0.2%, and shelter costs edged up 0.2%. Stock futures gained and Treasury yields dipped after the release, which also guides Social Security cost-of-living adjustments and serves as the last major reading before next week’s Federal Reserve decision. Markets largely expect a quarter-point cut, though policymakers are cautious amid tariff and labor-market worries.

Prepared by Christopher Adams and reviewed by editorial team.