Dean Baker, chief economist of the British research institution CEPR, said that the U.S. CPI data for September may show a growth rate similar to that of August, with overall and core CPI year-on-year expected to be close to 3%, higher than the Fed's 2% target. The direction of changes in inflation levels may cause concern for the Fed, especially in a situation where the impact of tariffs has not yet been fully passed on to consumers.
