14.10.2026 15:50
In the US, inflation rose in September by 0.6 percent month-on-month, in line with expectations, and by 3.7 percent year-on-year, above expectations. After this development, gram gold fell from 6,600 lira levels to 6,500 lira levels.
The U.S. Bureau of Labor Statistics (BLS) shared with the public the eagerly awaited September consumer inflation (CPI) data. According to the released data, the Consumer Price Index rose by 0.6 percent in September compared with the previous month. Monthly inflation had been 0.4 percent in August. Annual CPI, meanwhile, climbed to 3.7 percent in September, surpassing its August rate of 3.4 percent.
IT EXCEEDED MARKET EXPECTATIONS
In survey data compiled by Reuters, market experts and economists had forecast that monthly inflation would rise by 0.6 percent and annual inflation by 3.6 percent in September. According to the released data, while monthly inflation was fully in line with market expectations, the annual increase exceeded forecasts.
SHARP DECLINE IN GOLD PRICES
After the critical inflation data from the U.S. exceeded market expectations, there were volatile minutes in the gold market. Gram gold, which had been trading around 6,600 lira before the data, fell after the announcement, declining to around 6,500 lira.
Here is the chart of the decline in gold;
GASOLINE PRICES BECAME A DETERMINING FACTOR IN INFLATION
In September, the rise in energy prices contributed to the increase in consumer inflation. Gasoline prices rose by 9.1 percent month over month, accounting for more than half of the monthly increase in overall CPI. The energy index rose by 5.2 percent in September. The increase in this index had been 2.1 percent in August. Thus, the pace of the rise in energy prices accelerated markedly in one month. Gasoline prices rose by 6.5 percent in September on a non-seasonally adjusted basis. The energy index rose by 20.4 percent year over year. The annual increase in gasoline prices reached 34.2 percent. Electricity prices rose by 0.2 percent month over month in September, while natural gas prices declined by 0.3 percent.
NO CHANGE IN FOOD PRICES
The food index did not change month over month in September. The food index had risen by 0.1 percent in each of the previous two months. Food prices consumed at home declined by 0.1 percent in September. Prices fell in three of the six major grocery food groups, while increases were recorded in the other three groups. Prices in the meats, poultry, fish, and eggs group decreased by 0.5 percent. The decline in beef prices was 1 percent. Dairy and dairy product prices declined by 0.9 percent, while milk prices decreased by 2 percent. Nonalcoholic beverage prices, meanwhile, rose by 0.9 percent.
Food prices consumed away from home rose by 0.2 percent in September. In this group, prices at full-service restaurants rose by 0.3 percent, and prices at limited-service restaurants rose by 0.2 percent.
Food prices rose by 2.5 percent year over year. The annual increase in food consumed at home was calculated at 1.8 percent, while the increase in food consumed away from home was 3.5 percent.