A big unknown ahead of the September CPI is how much the government shutdown, which started Oct. 1, impacts the data. Ten days later, statisticians at the Bureau of Labor Statistics were called back to work to complete the report.

Inflation last month rose at an annual rate of 3%, coming in below economists' forecasts as the impact of President Trump's tariffs remain muted.

BLS releases US CPI data for September, making it a key report for Fed's interest rate decision as shutdown halts other data.

The softer-than-expected CPI report cemented expectations that the Federal Reserve will lower interest rates next week, but nothing is certain for December, economists said. Richard Moody, chief economist at Regions Financial,

September CPI came in softer than expected, with both headline and core inflation easing from August levels. Click here to read what investors need to know.

Friday's consumer-price index report likely leaves the Federal Reserve on course to cut interest rates next week and to maintain a soft bias favoring another cut at the meeting after that. Fed leaders

This year, there has been much debate over how fast the Federal Reserve should cut interest rates to stabilize the jobs market, given inflation has been trending higher. So far, Fed Chairman Jerome Powell has taken a mostly wait-and-see approach to interest rates,

Economists largely expect persistent retail inflation in September, increasing at the same pace as the month before. Headline CPI in September is seen rising 0.4% M/M, same as the prior month. On a Y/Y basis, CPI is expected to rise 3.1%, compared with +2.9% in August.

Stocks rallied Friday as investors weighed the latest data on inflation from the consumer-price index (CPI). The Dow booked its biggest weekly percentage gain since July.