Consumer price index hit 8.2% in September
Fox News contributor Brian Brenberg says the September inflation report showed numbers higher than expected.
Fox News contributor Brian Brenberg said the "ugly" September inflation report is going to be a problem for stock markets because it shows that inflation is continuing to be worse than expected. On "Fox & Friends" Thursday, Brenberg warned that inflation has reached deeper into the economy, and it will only be more difficult to recover.
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BRIAN BRENBERG: This is an ugly report that we just got. People already know the numbers in a sense, because they felt them last month. But now we're getting the numbers: 8.2% year-over-year, that beat expectations. A 6.6% core number, both of those numbers are higher than we expected to see. They're higher than markets expected to see. That's going to be a problem for markets. They're going to get nervous now because that means the Fed has an even harder job than they thought they had. … This is the report the stock market didn't want to see because inflation continues to be worse than expected. And I want you to pay attention to that core number, that 6.6% increase, because what that means is that inflation has reached deeper and deeper into the economy. It's spread farther, and it's going to be harder to get out.
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