US consumer inflation holds steady in September

US inflation was higher than forecast in September, raising the prospect of Federal Reserve entering rate hike cycle again.

The consumer price index (CPI) rose 3.7% on year, according to the Bureau of Labor Statistics (BLS), continuing with the pace of previous month. The number is slightly higher with economists' expectations.

However, core inflation, which excludes volatile energy and food prices, remained steady at 0.3% month-on-month (MoM) meeting analysts' estimates. Core inflation edged down from 4.3% to 4.1% on a year-on-year (YoY) basis.