ChainThink report: The U.S. Bureau of Labor Statistics will release the September CPI data tonight at 20:30.

Institutions expect the overall CPI year-over-year increase to rise from August's 3.4% to 3.6%, with a month-over-month increase of 0.6%, marking the largest gain in nearly five months, primarily driven by a rebound in energy prices;

The core CPI is expected to rise 2.5% year-over-year and 0.2% month-over-month, below the previous reading of 0.3%. This will be the final inflation report ahead of the Federal Reserve's monetary policy meeting on October 27–28.

CME data shows the market currently prices in a roughly 17% probability of a rate hike in October. If the core CPI month-over-month increase reaches 0.3%, it could strengthen expectations for a rate hike this month;

If it aligns with the expected 0.2%, the Fed may pause action, deferring the decision on rate hikes until December. The U.S. will release PPI data on Thursday, with both CPI and PPI data influencing market perceptions of future inflation trends and the Federal Reserve's policy trajectory.