U.S. headline inflation eased on monthly basis to 0.3% MoM in September 2025, from 0.4% MoM in August 2025 and below market expectations of 0.4% MoM. This was mainly driven by a decline in the food index, which slowed to 0.2% MoM in September from 0.5% MoM in August. However, this decline was offset by an increase in the energy index, which rose 1.5% MoM, supported by a sharp 4.1% MoM increase in the fuel index in September 2025. Meanwhile, core inflation—which excludes food and energy down to 0.2% MoM in September 2025 from 0.3% MoM in August 2025, mainly due to deflation in the used cars and trucks index, which fell 0.4% MoM in September 2025