The core consumer price index increased 0.3% in September, slightly above forecast, leading to questions about whether the Fed will further slow the pace of interest rate reductions.

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Non-farm payrolls increased 254,000 in September, the most in six months.

The value of retail purchases, unadjusted for inflation, increased 0.1% after a revised 1.1% gain in July, largely thanks to online retailers.

In August, the core CPI increased 2.1% on a three-month annualized basis, picking up from 1.6% in July.

Private payrolls increased 99,000 in August, and the prior month's jobs gain was revised lower.

On a three-month annualized basis, the core PCE price index advanced 1.7%, the slowest this year, reinforcing the wisdom of Fed interest rate cuts next month.

This is an upward revision, reflecting stronger consumer spending on goods and services—particularly in healthcare, housing and utilities, and recreation.