02:25 PM EDT, 10/24/2025 (MT Newswires) -- The consumer price index rose by 0.3% in September and was up 0.2% excluding food and energy prices, both measures below expectations.

The overall gain lifted the year-over-year increase to 3% from 2.9% in August, while the core measure was up 3% year-over-year after a 3.1% rate in the previous month.

Food prices rose by 0.2%, while energy prices increased by 1.5%. Gasoline prices alone surged by 4.1%

Owners' equivalent rents rose by 0.1% and regular rents were up 0.2%, both less than in the previous month and accounting for about one-third of the overall gain. Shelter price inflation has been a key concern of the Federal Reserve.

Prices of new vehicles rose by 0.2% after a 0.3% gain in the previous month and used vehicle prices fell by 0.4% after a 1% increase. However, apparel prices rose by 0.7% after a 0.5% gain and medical care services prices increased by 0.3% after a 0.1% decline.

The flash manufacturing reading from S&P Global rose to 52.2 in October from 52.0 in September after regional data from the New York, Philadelphia and Kansas City Federal Reserve banks were mixed.

The ISM's national manufacturing reading will be released on Nov. 3.

Released at the same time, the flash services reading from S&P Global rose to 55.2 in October from 54.2 in September, suggesting faster expansion in contrast to declines in the New York and Philadelphia Fed surveys. The ISM's services reading is scheduled for release on Nov. 5.

The University of Michigan consumer sentiment index for October was revised lower to 53.6 from the preliminary estimate of 55.0 and was further below September's reading of 55.1, reflecting downward adjustments to both the assessment of current economic conditions and future expectations.

Michigan said that inflation expectations slowed for the one-year period but accelerated for the five-year period.

The Kansas City Fed's services index rose to minus 5 in October from minus 9 in September. Other regional services data already released have also indicated contraction for the sector.

The Q3 GDPnow estimate from the St. Louis Fed is for a 0.599% gain, revised up from a 0.425% gain in the previous update.